Frequently Asked Questions (FAQs) about credit repair in Canada
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How can we help you fix your credit?
Currently we are offering a consultation process to our clients. Our rate per hour is $50.00.
We are pleased to help guide you through the dispute process. In light of the newness of credit repair in
Canada at the current time, we feel that this is the best way to help you.
NEED A CAPITAL ONE SECURED CREDIT CARD?
Capital One Secured Credit Cards allow you to get a secured credit card with only a small $75 cash deposit. Your new Capital credit card will report to the credit bureaus, Equifax Canada and TransUnion Canada as soon as you get the card and use it. This will put a positive piece of credit on your credit report and immediately increase your credit score.
Who are the credit reporting agencies that I need to know about?
In Canada:
- Equifax Canada
- TransUnion Canada
- There are several licensed credit reporting agencies in each province that provide different services to businesses and consumers. They generally don't report on the general population.
LITTLE KNOWN FACT:
The credit bureaus collect and report all of your late payments on your account for up to 6 years. If you made late payments 5 years ago and have been perfect ever since, you'll still be reported as having late payments. This means that bad credit items that happened to you, up to 6 years ago, are still affecting your credit!
Should I order my credit reports from the credit reporting agencies (credit bureaus)?
YES. This is the start to knowing what's on your credit reports. This is the very first step to cleaning up your credit and making sure that all items are accurate and complete. No other entities except for the credit reporting agencies can give you the actual accurate and timely information that they report. They are the source of your primary credit information.
Why do I need to send in my credit reports to you?
Credit reports are only mailed to the people who are named on them. This is for your privacy and security. You must mail us a copy of your report(s) in order to begin work on them. After we have started to work on your credit report you will receive a revised copy from the credit report agency. We will need to see all updated and revised copies. Otherwise we can't tell what's transpired with your report. YOU MUST SEND IN YOUR CREDIT BUREAU REPORTS IF YOU WANT US HELP TO YOU!
How long does it take to repair my credit?
The amount of time it takes is different for every circumstance. From the time you send me a deposit you will get a letter from me within three days. You should get your Equifax, TransUnion report in about four weeks.
What if I don't hear from the credit bureau?
If 4 weeks go by and you don't hear anything from the credit bureau please contact me. The credit bureaus might have accidently misplaced your request. Credit bureaus are regulated to respond to you in a "reasonable amount of time" which is usually interpreted to mean 30 days.
What can you take off of my credit bureau report?
I can take off any and all inaccurate and incomplete accounts such as the following:
Inquiries, addresses, unpaid collections, charge-offs, repossessions, bankruptcies, chapter thirteen, chapter 11's, medical bills, credit card debt, inquiries, old addresses, all names but one, judgments, and divorce debt.
What can you not take off my credit bureau report?
Federal tax liens, Child support, and new student loans, bankruptcies reported by the bankruptcy court.
Can I repair my credit myself for free?
Yes. The library has a lot of free information.
What is a credit service?
A credit service is a company that the seller (credit issuer) goes to, to have a three-way merge credit bureau file pulled. The information that these credit services pull is always out of date because it comes from an older database. It is important to show credit issuers the real credit bureau documentation from Equifax, Experian and Transunion.
What if some of the credit collectors call me?
Ask them for a toll free number to the collection agencies customer service. Ask the collection agency's customer service to give you a copy of the contract that you signed with their collection agency stating that you owe the collection agency the demanded funds. The collection agency can't collect from you if you don't have a signed contract with the collection agency.
Write or E-mail us to let us know how we are doing. Thank you.
Monty Loree