Welker & Associates Inc.

Credit Counselling

Sometimes all you need to solve your money problems is some good advice and help developing strategies to deal with your debts

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Over the years we have helped thousands of people solve their money problems. No matter how bad your situation, we can help.

    Over the years we have helped thousands of people solve their money problems. No matter how bad your situation, we can help.

    Credit counselling will help you:

    Take control of your finances

    Develop a plan to become debt free

    Create a workable budget

    Set financial goals

    Rebuild your credit rating

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    Consider credit counselling if you:

    Key considerations:

    Why choose Welker & Associates:

    Struggling with your finances?

    Let our credit counsellors help you develop a plan to take control of your money and become debt free.

    We understand that not everyone struggling with money problems needs to file a consumer proposal or bankruptcy. Sometimes all you need to make your money problems go away is some good advice. Our credit counselling services are designed to help you get out of debt, stay out of debt, and achieve your financial goals.

    We do this by conducting a thorough review of your financial situation that considers your assets, debts, and budget.  We provide you with personalized advice and strategies to create or improve your budget and develop a plan to become debt free.

    Welker & Associates Inc. is licensed by the Federal Government to help you deal with your debt issues.  Our credit counsellors are highly trained and educated.  They are qualified to explain all options to you, answer your questions, and help you to develop a plan to take control of your finances.

    • Review of current financial situation and debt management options.
    • Analysis of current credit rating and credit rebuilding strategies
    • Assistance with the creation of a personalized budget
    • Goal setting
    • Ongoing support and coaching 

    The most important things to remember when creating a budget is that you can’t spend more than you make, and if you choose to spend your money on one thing that money is not available to spend on something else.  

    Fundamentally, a budget is simply a series of choices.  Assuming the money you have coming in is sufficient to cover your expenses there are no right or wrong answers with respect to how you choose to spend your money.

    Step 1: Understand how you spend your money

    • Look back at your bank and credit card statements to see where your money has been going
    • Review your spending and shopping habits
    • Identify needs vs. wants
    • Set realistic targets for your expenses


    Step 2: Remember to account for all expenses

    • Fixed expenses – rent, vehicle payments, insurance, etc.
    • Variable expenses – groceries, meals, entertainment, etc.
    • Irregular expenses – vehicle repairs, Christmas, etc.
    • Savings – emergency fund, retirement savings, etc.


    Step 3: Track your progress

    • Have a system to monitor your budget and progress
    • Use software to assist with monitoring


    Step 4: Be prepared to make changes

    • Budgets are not static and need to change as your needs change
    • Don’t get discouraged
    • If your budget isn’t working fix it

    There are no shortcuts or quick fixes to rebuild a damaged credit rating.  Getting a good credit rating requires a history of using credit properly, borrowing and paying back amounts owed in the appropriate billing period, and maintaining manageable debt levels.

    STEP 1: Get out of debt

    It is impossible to rebuild or improve your credit rating if you are burried under a mountatin of debt.  The first step to improving your credit rating is to get out of debt.  In some cases this may mean taking action that will harm your credit rating in the short-term, but this is a critical and necessary step to improving your credit rating in the long term.   

    Step 2: Make sure the information on your credit report is correct

    There are two major credit reporting agencies in Canada, Equifax and Transunion.  You can get free copies of your credit reports from these organizations through the mail.  It is recommended to get copies of your credit report from each of these companies as the information reported may vary.  Once you have your reports review them to make sure that all of the information being reported is consistent and correct. 

    STEP 3: Correct any errors which may exist on your credit report

    If there are errors or inconsistencies on your credit reports you will need to contact the credit reporting agency directly and work with them to have the errors corrected.  It can take some time to get errors corrected.  Therefore, it is best to be proactive and correct errors as soon as possible. 

    STEP 4: Get good marks on your credit report

    Your credit report is effectively a summary of how you have dealt with creditors in the past.  In order to improve your overall credit score you need to get good marks on your credit report by borrowing money and paying it back.  Creating a track record of using credit properly will improve your credit score over time.

    • You use your credit cards as a necessity rather than a convenience and often go over your spending limits.
    • You regularly need to borrow money to make it from one payday to the next.
    • Your total debt is not reducing over time and you only pay interest or service charges.
    • Creditors are pressuring you for payment, threatening legal action, or garnishing your wages.
    • Your car, house or other encumbered property has been repossessed.
    • Your debts are in collections and you are receiving calls or letters from collection agencies.
    • Utility companies cut-off service because your bills have gone unpaid.

    If you file a consumer proposal or personal bankruptcy you are required to complete two credit counselling sessions.  These sessions are provided by Welker & Associates Inc.  There is no additional cost for these sessions, the legislated fees associated with mandatory credit counselling are included in your proposal or bankruptcy payments.

    The purpose of these sessions is to help you make the most of the fresh start filing a consumer proposal or bankruptcy provides.  We review your budget and financial goals, provide you with advice to improve your financial health, and strategies to rebuild your credit rating.

    There is no cost to speak with a credit counsellor.  Our initial consultations are always free of charge.  At your initial consultation we will conduct a review of your situation and help you develop a plan of action.  If you file a proposal or bankruptcy with our office additional credit counselling services are provided at no additional charge.

    Unfortunately, there are companies out there who seek to take advantage of your financial misfortune, uncertainty, and fear of speaking directly with a Licensed Insolvency Trustee.  You can spot a fraudulent credit counsellor by their:

    • High pressure sales tactics.
    • Upfront fees for referral to a “court officer”.
    • Advice to NOT talk to a Licensed Insolvency Trustee.
    • Referral to high interest lender to take out a loan to pay off your debts.
    • Referral to a lender to take out a credit rebuilding loan.


    Remember, only a Licensed Insolvency Trustees can help you file a consumer proposal or bankruptcy, and our consultations are always no obligation and free of charge.

    The best part about reviewing your situation with one of our credit counsellors is that it will not affect your credit rating.  Not only will our credit counselling services not affect your credit rating, getting good advice to better manage your budget and deal with your debts can only have a positive impact on your overall financial health.

    Your Credit Report

    If you’ve been struggling with money problems for a long time it can be difficult to know where to start. As time passes, debts go into collections and get transferred from one company to another making it hard to keep track of who you owe and how much. Fortunately, we can help. With your permission, Welker & Associates Inc. has the ability to view your TransUnion credit report and help you figure out what you owe. Understanding the full extent of your debt issues is a critical first step in determining the best way forward.


    Andrew P.

    We recently engaged the services of Welker & Associates. We were looking for someone who could help us with our bankruptcy reasonably and fairly. We interviewed several trustees, Welker.ca was by far the most knowledgeable, providing easy to understand scenarios of various options. Welker fit the bill, not only did they help us on time, they saved us lots of money by suggesting cheaper, quicker and more effective alternatives.

    Andrew P.

    Justin Cornelius Horton

    This company is amazing, friendly People, they work with you to put in a payment plan that works for you not them. I went with them and I can now say, I'm Debt Free. They contacted everyone I owed and got what I owed and they got it Cut in Half and then Some. I would Recommend this company and these people to anyone who is falling behind and is Accumulating debt.

    Justin Cornelius Horton

    Kyle Rose Munroe

    I had been overcome by stress for many months not knowing what to do. I wasn't even sure who to talk to about my growing dept. Thankfully I was told about Welker and associates. They came to meet me in Chatham even though they are out of London. The process was easy and the staff was very friendly and reassuring. Thanks to these wonferful people I can get back to my life. Thank you.

    Kyle Rose Munroe

    Kyle Rose Munroe

    I kept telling myself, I've got this, just need another couple weeks to get ahead. It just got me deeper and deeper in a dismal pit of debt. I wanted to give up. I had always thought that you have to try, always just try, so I made one call. That one call left me with something I had not felt in quite a while. Hope. Sue asked me some questions with a sensitivity that was greatly appreciated, she was able to access my situation and was straightforward with what could be done, how and the choices I had. She assured , steered and educated me on my journey to gain control not only on my financial future but my priceless sanity. I am moving forward, I have control, if I slip I can call for guidance.

    One of life's great pleasures is coming across someone who is so well suited to their job. Sue is one of these people I have had the pleasure of her experience and knowledge.

    S. Sharp

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