Credit and Credit Repair
Credit report, score or rating?
| Credit Report / File |
Your credit history is recorded in files maintained by at least one of
Canada's three
major credit-reporting agencies. These files are called credit reports - a
"snapshot" of your credit history. To learn
more… |
Credit Score |
Your credit score is a judgment about your financial health, at a specific
point in time. It indicates the risk you represent for lenders, compared
with other consumers. To learn more…
|
Credit Rating |
Some credit-reporting agencies report the lenders' rating of each of your
credit history items on a scale of 1 to 9. To
learn more… |
How to request your credit report / file?
Did you know that you can get your credit report for free? To learn more...
What to do if there is a mistake on my credit report / file
Because your credit information can be kept by more than one
credit-reporting agency, and because those agencies do not necessarily share
information, it's important to check all three credit reports carefully (it is
possible to obtain your credit file for free). If you believe that the
information in your credit report is
incorrect, there are steps to take in order to correct the situation. To learn more…
Improving your credit score - tips
If your credit score is not as high as you think it should be, make sure
that
the information in your credit report is correct. If it is correct, read your
report carefully to find out which factors are most likely having a negative
influence on your score, and then work to improve them. To learn
more…
Hiring a company to “rebuild” your credit… a few tips
Beware of companies that promise to help you re-establish your credit for a
fee; their ability to change the information that appears in your credit file
is no different than anyone else’s! Only your creditors are able to
alter
this information. To learn more…
Co-signer’s responsibilities
A family member or friend asks you to co-sign or guarantee a loan: what does
this mean and what is required of you? Keep in mind that acting as a
co-signer
does not mean simply signing your name at the bottom of a contract so that
someone
can get a loan – there is much more to it! To
learn more…
Payday loans
You may have seen companies around your city or town -- or seen websites --
that offer "payday loans". Payday loans are small loans that a
borrower
usually is required to pay back on or before his or her next payday (whether
that payday is from a job or from some other income source, like a pension).
These loans are some of the most expensive way to borrow money for a consumer.
To learn more…
Warning Signs of
Debt | Before going further | "Last resort" options |
Information on collection
agencies | Credit and Credit
Repair | Resources for
educators
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