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When it comes to damaged credit, banks and other financial lenders will often say, “Sorry, but address your bills on time and probably come back within 6 months.” This isn’t a piece of helpful advice and, in most cases, leads to application refusal again after the 6 months. In addition, having bad credit makes it very challenging for you to acquire mortgages and other credit facilities. This is because potential lenders will check your credit score as a way of establishing your creditworthiness. The good news is that we can help fix your damaged credit through our credit repair services.
What is credit repair?
Simply put, credit repair is the comprehensive process of identifying the causes of poor credit standing and fixing them. Different factors such as identity theft, missed payments, delayed debt payments, failure to pay your bills on time, financial reporting issues, and errors in the financial information submitted to Equifax and TransUnion Canada could contribute to poor credit scores.
A reliable credit repair agency can help you acquire your credit report from TransUnion Canada and Equifax. The expert can also help investigate possible misrepresented financial information that could be affecting your credit score. If these errors are identified, a dispute should be filed with the credit agencies to correct the mistake on time.
Credit repair services also extend beyond fixing errors in your credit report and cover other important issues like financial budgeting and responding to various legitimate concerns on the side of financial lenders. Working with a reputable credit repair agency offers you the opportunity to repair your credit besides learning other essential aspects of finance.
How credit repair works
You have probably seen various credit repair companies claiming to provide the best credit repair services or debt consolidation services. Sure, most of them actually provide services that work, but their approach may be somewhat questionable. As you search for a good credit repair company, keep in mind that the entire process of fixing poor credit standing may require legal and financial expertise. So, choose an agency that can address both aspects of the credit repair process.
It’s also important to mention that the entire process of acquiring comprehensive credit information from credit monitoring and reporting agencies like Equifax and TransUnion Canada is lengthy. It is further complicated by the fact that the details in that report should be investigated to determine whether there are errors or misrepresented financial data that could be derailing your credit score and painting your credit report in a bad light. Again, this requires a higher level of financial expertise.
Before you trust entities that claim to remove negative information from your credit report, there is one thing you should know. Third parties cannot directly edit the financial data quoted by credit monitoring and reporting firms. After all, no law allows third parties to edit these data, even credit repair agencies. However, negative information can be removed only after the specified legal period has expired.
If there is incorrect financial information or misrepresented financial data in your credit report, we will file a dispute with the credit agencies to correct that information. Beyond addressing misrepresented financial information in your report and probably catching fraudulent transactions, our credit repair services can help you build an impressive credit profile. The amount of work that needs to be done will majorly depend on how you have been using your credit.
Generally, your credit profile depends on your ability to meet your financial obligations without failure. Making sure that all necessary payments have been done according to the set schedule can affect your credit profile positively. The amount of credit you have also applied for plays a crucial role in determining your credit score.
For instance, if you have used over 50% of your available credit, there is a good chance you’ll find it challenging to improve your credit score even when you make timely payments. This is because your liquidity will be overwhelmed by your current debt level. For this reason, paying down your debt can help build an impressive credit profile. The professionals at York Credit Services will help you address the issues that could be pulling your credit score down and ensure that your application for credit-related services doesn’t get rejected by lenders.
NEWMARKET’S CREDIT REPAIR EXPERTS
A tainted credit profile can make it very difficult for you to successfully acquire credit financing packages such as mortgages and car loans for your investment plans. This is because Canadian banks and other financial institutions majorly depend on your ability to pay back the amount of money you borrow. They use your credit score and evaluate your overall credit profile to determine whether you are creditworthy.
A poor credit score tells banks and other lending institutions that you probably don’t pay your bills on time or you have been using your available credit improperly. Poor credit standing could also mean that you have money that you’ve never paid back. These issues are bad news for you because lending institutions prioritize their services to people who have excellent credit history and outstanding credit profiles.
At York Credit Services, we already know that financial-related challenges are prevalent among Canadians. However, this should not prevent you from implementing your financial plans and making those significant strides you have always wanted. This is the main reason we provide reliable credit repair services to help you establish an impressive credit profile so that your application for credit services doesn’t get rejected by lenders.
Additionally, we can help you address various credit issues that could taint your credit score. Examples of these issues include student loans, outstanding income tax debt, payday loans, and more. If you owe more money than you can pay back, please contact us today and learn how our credit repair services can help you pay down your debt and eventually achieve financial wellness. 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
Most of the financial details in your credit report are likely to last for up to six years. Although negative information regarding bad debts could fall off over the years, this may not be soon enough to fix your credit standing, particularly if you need to access various credit financing services from lenders. This is where our credit repair services come in. We can help you find ways to identify misrepresented financial data in your credit report and get it corrected by the credit monitoring and reporting agencies.
Keep in mind that there are several credit monitoring systems in place, which makes it essential for us to liaise with Equifax and TransUnion in Canada as well as our clients’ creditors to improve the overall credit profiles of our clients. The entire process of fixing damaged credit profiles is complicated and suits people ready to fully commit to our credit repair program and eventually prove themselves financially responsible.
THE CREDIT REPAIR PROCESS
Our credit repair program is designed to give people with bad credit standing and opportunity to fix various areas that lead to bad credit and build new, impressive credit profiles that will be a reference point for banks and other financial lending institutions. Note that we will not erase negative information from your credit report, particularly if that information is correct. But such negative tales can be cleared once the specified illegal timeframe has expired.
Before you choose to work with credit repair companies that promise to erase bad credit information from your report, you should know that no party, including credit repair agencies, can directly alter the financial data published by Equifax and TransUnion Canada. If this information is misrepresented or inaccurate, York Credit Services can file a dispute and ensure that the credit reporting agencies correct it on time.
In case you do not have a credit history, our experts will work with third-party lenders to carefully introduce credit card debt or loan in your credit profile and monitor your payments to build your credit history and score. We can help you arrange the most convenient ways of making debt payments and eventually build an impressive credit profile. No matter how complicated your credit score issues are, you can count on our many years of experience, expertise, and commitment to help you fix your credit report and credit score.