Improve Your Credit!
With fewer outstanding obligations, your credit report will look better to prospective creditors. And, with a single payment to remember each month, it will be easier to budget and make it on time, which over time will improve your credit rating. You’ll pay down your debt in no time.
How Credit Rating Works
A credit report is a history of how consistently you pay your financial obligations. A credit report is created when you first borrow money or apply for credit. On a regular basis, the companies (banks, finance companies, credit unions, retailers, etc.) that lend money or issue credit cards to you send the credit reporting agencies specific and factual information about their financial relationship with you - when you opened up your account, if you make your payments on time, if you miss a payment, or if you have gone over your credit limit, etc.
Equifax Canada receives this information directly from the financial and retail institutions and retains it to help other lenders make decisions about granting you credit. Because your credit report contains all the information received from your lenders and provides a picture of your financial health, other lenders will request your report when they are determining whether or not to grant you a loan. Your credit report is a history that will help them determine what kind of lending risk you are - if you are likely to repay your obligation on time or not.
We Can Help You Quickly Repair Your Credit
- You will learn immediately your credit score
- Correct the wrong information
- Send an explanatory letter to the 3 credit bureaus
- Pay on time, open other accounts
- Follow the evolution of your credit score
With fewer outstanding obligations, your credit report will look better to prospective creditors. And, with a single payment to remember each month, it will be easier to budget and make it on time, which over time will improve your credit rating. You’ll pay down your debt in no time.