Glossary
Non-profit credit counsellors are people who can give you advice about how to manage your debts and money. Usually, the goal is to help a person repay their debt, or avoid bankruptcy. Non-profit credit counsellors do not make money from the people they are trying to help, but may charge fees to help cover their costs.
A notary public is a person who is allowed to handle some legal formalities. For example, they can certify contracts, deeds, and personal documents. When buying a used car, they can be used to certify a claim you are making to the Motor Vehicle Dealer’s Compensation Fund.
In Debt and Consumer Rights, Payday loans, Housing Law
NSF stands for Non-Sufficient Funds. It means that a person did not have enough money in their bank account to cover a payment by cheque or pre-authorized debit (PAD).
When this happens, the bank usually charges extra fees. When it’s a cheque, both the person who wrote the cheque and the person the money was payable to might be charged extra fees by their banks. NSF cheques are sometimes called “bounced” cheques.
When it’s a PAD, only the person who owed the money can be charged an NSF fee.
If your bank charged you an NSF fee, you can ask if they will waive or cancel it.