Dealing With Debt

With the convenience of credit comes the responsibility for debt. If debt problems arise, take the following steps:

Contact your creditors immediately and explain why you are having difficulties making payments. Ask for a temporary arrangement such as an extension, or partial payments. Many creditors are willing to adjust payment schedules for legitimate reasons. Remember to give priority to mortgages or rent payments.

Meet with a debt counsellor, the counsellor will review your financial position in confidence and recommend alternatives particular to your debt problems.

If you are having problems, you may consider seeking money management assistance from sources such as: Personal finance publications including books, journals and pamphlets; money management programs and workshops offered by community colleges and community groups.