INFORMATION = POWER
Frequently Asked Questions
- Is this service confidential?
YES. All information discussed with our counsellors is 100% confidential and is never discussed with anyone without your prior knowledge and consent.
NO. We are not a lending institution. If this was a loan, that would make us a creditor. Although we do offer a service of Private Mortgages, that is simply a referral service which has been developed through networking.
- What types of debts can be included?
We deal with unsecured debt: credit cards, lines of credit, bank loans, student loans, loan residuals, collection agencies, and YES - we deal with Payday loan companies. In some situations, we may be able to work with secured debt, but that is at the discretion of your counsellor and the secured creditor.
- Can you stop or prevent legal action?
YES. In many cases, we have been able to prevent creditors from filing court action against a debtor. We have also been successful in removing existing garnishments on your paycheque.
- Will this affect my credit?
Yes. Anything that you do which is contrary to what the creditors want you to do will affect your credit rating. With the Consolidated Payment Proposal, your creditors will rate your accounts with an R7 rating with the Credit Bureau, which indicates that you have entered into a voluntary arrangement to make payments. This is merely intended to prevent you from getting more credit while you are paying your existing debt back.
- Will I ever have good credit again?
YES. The Credit Pros is committed to eventually counselling you on rebuilding your credit rating after we have helped you resolve your financial difficulties. Credit is a necessary evil in today's day and age and you should NOT be afraid of having credit again. In fact, you will most likely be more careful with your credit, having gone through financial difficulties already, than someone who has not yet experienced financial problems.
