Is Credit Counselling Society legit?

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The Credit Counselling Society (CCS) is a “non-profit” offering free debt management plans and financial education to Canadians since 1996. They get credit for no annoying upfront fees. However they don’t have a full set of services including credit rebuilding. Think about it, how can they be the best to help if they can’t help you rebuild your credit. Reach out via phone, text, or live chat if you have any questions.

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Credit Counselling Society Legit Question

Is Credit Counselling Society legit? I’ve heard about the Credit Counselling Society but want to know if they’re a trustworthy organization before I reach out to them.

From: Anonymous Question
Location: Fredericton, New Brunswick (NB)
Category: debt management plan

Credit Counselling Society Legit Answer

The Credit Counselling Society is a credit counsellor that has a good standing with the Better Business Bureau. They’re backed by Credit Counselling Canada among other professional groups, and first opened doors in 1996. They offer Canadians a hand through free debt management plans and financial education. This is what Debt Insiders does, but we do it better.

If you’re in need of more formal debt solutions, they’ll point you toward Licensed Insolvency Trustees they trust. Remember, not all of them can be your new best friend. Trustees get paid by the lenders and creditors and don’t advocate for Canadians in debt. LITs can also double bill you or charge you extra. Beware! Reach out via phone, text, or live chat if you have any questions.

From: Insider Scott

Office of the Superintendent of Bankruptcy (OSB) Answer

If you’re struggling with debt, the Credit Counselling Society offers financial guidance and support for Canadians. They operate within the regulatory frameworks of the Bankruptcy and Insolvency Act, providing access to services like a Consumer Proposal to help you manage your debts effectively. Whether you need assistance with debt management plans or want to explore options for credit rebuilding, a credit counsellor like CCS or Debt Insiders can ensure compliance and protect consumer rights throughout the process.

From: OSB Helper

Related Questions to If Credit Counselling Society Is Legit

Here are the top 5 most frequently asked questions related to the legitimacy of the Credit Counselling Society, formatted in markdown:

1. Is Credit Counselling Society a non-profit organization?

Yes, CCS is a non-profit organization.

2. How do I get started with the Credit Counselling Society?

You can start by visiting their website at www.nomoredebts.org or calling their toll-free number at 1-888-527-8999.

3. Will using a debt management plan from Credit Counselling Society affect my credit score?

The effect of a DMP on your credit score is slightly negative in the beginning but improves upon successful completion.

4. Are there any upfront fees for Credit Counselling Society services?

No, CCS does not charge any upfront fees.

5. Is Credit Counselling Society registered as a collection agency?

Yes, CCS is registered as a collection agency to administer debt management programs, although it operates as a non-profit[4].

If you have a question about debt see our debt questions or ask your own debt related question.

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