Archive for February, 2006

Do they have credit counseling in other countries?

Yes, consumer credit counseling exists in many other countries.
In the United Kingdom they call it debt counselling, which is actually a good name for it, because that’s really what is happening.  You are receiving counseling to help you deal with your debts.
In Canada, they call it credit counselling, and they spell “counseling” with two l’s, just like they do in England.  In Canada, if you file for personal bankruptcy, you are required to attend two credit counselling sessions in order for your bankruptcy to end and to receive a discharge from your debts.
As personal debt levels continue to increase, it is likely that credit counseling will become increasingly popular in an increasing number of countries.