"CREDIT COUNSELLING" IS ALSO SOMETIMES
CALLED A "DEBT MANAGEMENT PROGRAM"
CanLaw Will Find You a Consumer Protection
or Money Problems Lawyer
"Credit counselling" services sell people in debt, a debt consolidation program for which they charge fees either directly or indirectly or both. They may say they are non profit but they make a lot of money from servicing you.
There have been cases of outright fraud by credit counsellors who stole the money debtors paid them which was supposed to be sent to the creditors.
Bankruptcy, may well permit you to recover a good credit rating much faster than credit "counselling".
Negative credit items remain on your credit report for to seven years. This would include the records of your credit "counselling" and a list of your "bad debts."
Bankruptcy will also remain on your record for up to seven years, but you may well be able to re-establish credit after a couple years. Think about that.