Posts tagged Credit Score
How Will A Consumer Proposal or Bankruptcy Affect My Credit Rating?

The proposal stays on your credit file for 3 years from the date of completion. A first bankruptcy will stay on your credit report for a period of 6-7 years (depending on Province) from the date of discharge. A second bankruptcy will be reflected on the debtor’s credit report for a period of 14 years from the date of discharge.

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How to Correct Errors on Your Credit Report

Maintaining a good credit score is vital as it directly impacts your ability to borrow and various things such as the cost of insurance and your eligibility for certain types of employment.  For these and many other reasons, it is important to identify and correct any errors on your credit report as soon as possible.

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Will Bankruptcy Ruin My Credit?

People often try to avoid bankruptcy at all costs because they are worried about ruining their credit rating.  They pride themselves on paying their bills on time, have always maintained a strong credit score and they thought of doing anything to jeopardize that is unthinkable.

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The Importance of a Good Credit Rating

Since your credit score is a reflection of how you have or have not paid your bills in the past, many businesses, landlords, mortgage lenders, utility providers, and even employers; use your credit score to predict your future financial responsibility.  Anytime you need to borrow money, or even use services, your credit score is may be called into question. This is why maintaining good credit score is important.

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