Posts Tagged ‘Credit report’
Credit Rebuilding Basics, Part 5 — Fine-tuning and Monitoring
If you have already taken the appropriate action steps to rebuild your credit, you should be well on your way to a higher credit score. Now it’s time to fine-tune and build on what you have already accomplished.Read More
Credit Rebuilding Basics, Part 4 — Rebuilding Your Credit
We’ve also provided a blueprint for how you can repair your credit before rebuilding your credit. Now for the exciting stuff—rebuilding your credit score!Read More
Credit Rebuilding Basics, Part 3 — Reviewing and Repairing Your Credit Report
To repair your credit, you must first find out what your credit report is saying—that’s the starting point.Read More
Credit Rebuilding Basics, Part 2 — How Is Your Credit Score Calculated?
Once you know how the Credit Score system works, the steps required to repair and rebuild your credit will make more sense.Read More
Credit Rebuilding Basics, Part 1 — What is Your Credit Score and Why is it so Important?
Your credit score—only three digits long, but those three digits have a significant impact on how the rest of the world looks at you. They can dictate your eligibility for loans and other credit, the accommodations you can rent, and it can even affect your employment opportunities.Read More
9 Reasons to File a Consumer Proposal instead of Personal Bankruptcy
Filing a consumer proposal can have significant advantages compared to filing personal bankruptcy when you are feeling overwhelmed with debt.Read More
A Gentler Method: Why a Negotiated Consumer Proposal Can Be A More Fair and Reasonable Debt Solution
If you have debt problems you also have options. A Consumer Proposal can be a much better and more manageable solution than bankruptcy to resolve your debts.Read More
What Is a Consumer Proposal?
Most consumer proposals are structured as monthly payments overtime at less than the full payout.Read More
Your Credit Report After a Bankruptcy or Consumer Proposal
Debts included in a bankruptcy should be rated as R-9 or I-9, indicating written-off, and the outstanding balance should be reported as zero. There should also be a note indicating “included in bankruptcy” below the trade line for the corresponding creditor. Debts included in a consumer proposal should be rated as R-7 or I-7 and the outstanding balance should also be reported as zero.Read More
Advantages of Filing a Consumer Proposal vs. a Bankruptcy
A consumer proposal can be creative and involve the sale, over time, of assets and payment of all or a portion of the equity in those assets to your creditors. This would allow you to settle your debts through a lump-sum payment instead of having to make monthly payments.Read More