CanLaw Credit Problem Answers
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Beware Any Credit Repair Offer is a Fraud and a Scam
Product description: Credit Repair offers are a fraud and a scam Do not get taken in. Rebuild your credit properly See why no one can repair your credit rating but you Beware
INSTANT CREDIT REPAIR FRAUD
Any Credit Repair Offer
is a Fraud and a Scam
BAD CREDIT? THERE IS NO QUICK FIX. YOU WILL HAVE TO WORK YOUR WAY BACK TO A GOOD RATING.
Credit Repair offers are a fraud and a scam Do not get taken in. Rebuild your credit properly See why no one can repair your credit rating but you Beware
How to Rebuild Your Credit
You are the only one who can "fix" your bad credit. There is no shortcut to erasing bad credit records.
YOU CAN IMPROVE YOUR CREDIT-WORTHINESS BY:
- Obtaining a prepaid credit card.
- Obtaining and properly using retail credit cards
- Get an RRSP loan. They are often available regardless of your credit.
- Paying your bills on time and in full. Late payments and collections can have a serious impact on your score.
- Not applying for credit frequently. Having a large number of inquiries on your credit report can worsen your score.
- Reducing your credit-card balances. Maxed out cards will affect your Credit Score negatively.
- Requesting additional credit. Not having sufficient credit can negatively impact your score. Of course if your score is too low, this will not work
- Reducing your total indebtedness
- Closing unneeded credit accounts
A Credit Bureau Will Not Remove
Accurate Negative Information
from your credit report before the legal time period has expired.
No one can force, coerce, con a credit bureau into removing accurate negative information
It will remain on your file for six years.
Beware of Credit Repair Scams
Do not pay any company to rebuild your credit rating.
There is nothing they can do to change your credit rating.
There are no "loopholes"
or laws that credit repair companies can use to get correct information off your credit report.
They do not have an insider who will fix it for you.
You are stuck with your bad credit
which in fact you created in the first place. You have to pay the piper.
Do not get taken in. Rebuilding your credit takes time and effort. Your credit history will remain on your credit report for seven years.
Obviously, you will need to be scrupulous about paying every bill on time. Never miss by even a day.
CanLaw Guide to the Law on Debt for the Layperson