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Credit Repair
In Canada, it is quite easy for you to end up with poor credit standing. Even one missed payment that’s more than 30 days late can result in a negative impact on your overall credit score. Given that financial lenders consider your credit score to determine your general creditworthiness, a poor credit report can make it challenging for you to access car loans, student loans, mortgages, and other credit services. Fortunately, York Credit Services can help you rebuild your credit report and make it more impressive.
What is credit repair?
Poor credit standing is often attributed to various factors, including irresponsible use of credit cards, identity fraud, defaulting on loans, mistakes in your credit report, and more. Despite the exact cause of your debt problem, your financial information goes straight to credit monitoring and reporting companies, which is included in your credit report. The credit repair process aims to identify the major causes of your poor credit standing and address them to improve your overall credit score and creditworthiness.
The entire process of repairing your bad credit involves various steps, such as identifying misrepresented financial information in your credit report and disputing the misleading details that credit monitoring and reporting agencies have. Sometimes, this process may involve extensive repair work, especially for clients battling identity theft issues. In addition, note that various financial aspects like effective budgeting and responding to various concerns from financial lenders are an integral part of our credit repair process.
You have probably come across many credit repair agencies that claim to offer the most reliable debt consolidation services. Some of them may be offering reliable services, but pay attention not to hire agencies whose approach is questionable. In addition, there are cases of credit repair that require legal and financial expertise, a reason you must pick a credit repair company carefully.
How credit repair works?
Some credit repair agencies in Canada claim that they can clean up your bad credit report within a short timeframe. However, the process of collecting your financial information from credit bureaus like TransUnion Canada and Equifax and identifying inaccurate or unverifiable negative information that could be harming your credit history is challenging and takes a lot of time. Besides, the financial details quoted by these credit bureaus in your credit report cannot be directly altered by a third party such as a credit repair agency.
Once the experts at York Credit Services have obtained your credit report from credit bureaus, they will work tirelessly to identify various issues such as misrepresented financial information that could be hurting your credit score. Our experienced financial lawyers will draft letters to file disputes with TransUnion Canada and Equifax if such errors are found. This is a legal and practical approach to address mistakes in your financial information submitted to credit bureaus.
It’s important to mention that it is impossible to directly remove financial information from your credit report, even if that information is negative unless the required legal period has expired. For this reason, our experts use a legal approach such as disputing misrepresented information as a way of improving your credit score. Unfortunately, there are no laws that allow credit repair companies to edit the information in your credit report directly, and York Credit doesn’t promise to do so.
Your overall credit standing depends on how well you pay your debts on time. Making sure you have paid your bills on time and addressed the relevant debts can help improve your credit score significantly. It’s also essential that you do not apply for too many credit products, affecting your credit report.
At York Credit Services, we offer credit repair services that are customized to a client’s behavioural changes in debt payment and spending. Our experts will also help you assess your overall credit report and rectify issues that may unfairly pull your overall credit score down. Indeed, you will be working with a trained credit professional who can successfully perform financial analysis, create a well-thought-out plan of action, and help you implement that plan to improve your overall credit score.
HAMILTON’S CREDIT REPAIR EXPERTS
Regardless of the main causes of your debt problems, the financial information associated with these debts goes straight to your credit report, where it’s likely to stay for up to six years. With every wrong debt-related move you make, your credit score is likely to drop along with it. Having a poor credit score will make it very challenging for you to access various credit services such as mortgages, car loans, and other forms of credit financing options from financial lending institutions.
Keep in mind that these institutions use your credit score and credit report to access your overall creditworthiness before they can advance credit services to you. A poor credit standing tells potential financial lenders that you have been using your available credit limit unwisely. You tend to owe cash and not paying it on time, or you don’t simply address your bills on time. It is beyond doubt that financial challenges are prevalent among Canadians, but you should never let these challenges prevent you from making vital financial choices in the future.
At York Credit Services, we offer custom services that help our clients evaluate and understand what could be pulling their credit scores down. We also work with them to fix their credit scores and implement the right debt repayment strategy to help them improve their overall finances. Indeed, we will help you address various credit problems that could be hurting your credit report. These problems include income tax debts, pending student loans, high credit card debts, and foreclosure debts.
In case you owe more money than you can pay, do not hesitate to contact us. Our credit repair services and debt management guidance can help you get out of crippling debt traps. Some of the types of credit problems which may affect your credit score that we can help with, include high credit card debts, payday loans, student loans, income tax debt and foreclosure debt problems. If you owe more than you can pay back, you need a credit repair solution as soon as possible. Credit repair helps you focus on paying your debt within the shortest time possible so you can move on financially from crippling debt.
UNDERSTANDING CREDIT REPORTS
Your credit report is simply a comprehensive summary of your relevant financial data, and these details may stay in your report for about 6 years. Sure, some details such as bad debt are likely to fall of your financial report over time. However, this may not be soon enough to let you apply for various credit financing options such as car loans and mortgages from various financial lenders. This is one of the main reasons you should seek credit repair service providers to help you address multiple issues that are pulling down your credit score and improve your credit profile.
Keep in mind that there are different credit monitoring and reporting systems in Canada, which makes it essential for our financial professionals to work in collaboration with TransUnion Canada and Equifax to improve your overall credit profile. The entire process of correcting or fixing poor credit is a challenging task that only suits individuals ready to commit to our credit repair program. This way, they can eventually prove themselves as financially responsible.
Most financial lenders in Canada prefer providing credit services to borrowers with outstanding credit scores. However, these lenders may find it impressive that you were able to turn around your poor credit standing to something impressive within a very short timeframe.
THE CREDIT REPAIR PROCESS
Our credit repair services are basically intended to offer you the opportunity to understand what’s pulling down your credit score and build a new credit profile that can be used as a reference point by nearly all financial lenders in Canada. Our finance professionals cannot promise to expunge accurate information indicated in your Equifax or TransUnion Canada credit reports, even if that information is negative. This is because there are no laws that allow credit repair agencies to directly tamper with the information issued by credit monitoring and reporting bureaus.
However, York Credit Services can carefully investigate your credit profile as shown by TransUnion Canada or Equifax. We will identify possible financial information errors that could be harming your credit profile and dispute that damaging information. This way, we can control the accuracy of financial information indicated in your credit reports and eventually improve your credit score.
In case you do not have sufficient credit history, we can use third-party lenders to carefully introduce a credit card or a loan into your credit report. We will help you monitor these transactions and ensure that all necessary payments are made on time. Remember, we can help arrange the most convenient way for you to meet these financial obligations and improve your overall credit standing.