Debt Retirement Programs (DRPs)
This is our most frequently used service by client service. People are attracted to this option from our agency, because we are the only Newfoundland and Labrador "based" organization delivering the service. Generally, people feel more comfortable knowing that their money, and control of their payments remains right here in Newfoundland and Labrador, instead of being sent out of the province for administration and distribution. They also like the fact that our agency is governed by a local Board of Directors who are Newfoundlanders and Labradoreans caring for our own people. Other Credit Counselling Services have volunteer Board members, but typically they are from their own region or province so their first priority would be the people who live there.
The Debt Retirement Program process sees us develop and present a formal proposal for your creditors. The proposal asks then to reduce or eliminate the interest charges on your loans and credit cards, to reduce the payment to them monthly, to stop all phone calls and other collection activity directly with you, to forego their right to legal action and finally, to not carry out any repossession of your assets.
Our proposals are accepted by creditors 97% of the time.
This service is used by over 100 families in Newfoundland and Labrador every year and on their behalf we return over $3 million to their creditors.