Very few people who undergo credit counselling need to go through the process again, which is a sign it works, Michelle Pommells says. Michelle Pommells, CEO of Credit Counselling Canada, says those income support programs certainly helped, as did much publicized mortgage deferral programs that gave roughly one in six Canadian borrowers a temporary reprieve on interest payments. Mulholland agrees that a big part of stemming the tide of insolvencies will be credit counselling programs. That's why she worries about other useful programs that were cut off at the knees by the pandemic. Beyond the emergency programs created during the pandemic, low income Canadians are at risk of missing out on regular benefit programs because of shutdowns.

Source: CBC News November 15, 2020 09:00 UTC