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Free Debt Consolidation
No contact details required to find out if you qualify
Your credit history describes how you used credit, both good and bad. How many credit cards and loans you have? How high are your balances? Do you pay your bills on time? It’s frustrating for people to learn that they can’t control their credit score, but what you can control is your credit behavior.
Know more about us and what we can do by clicking on the button below…
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Besides your credit score, lenders use credit history to gauge your creditworthiness to decide whether to approve your loan application or increase your credit limit.
It also serves as a timeline; newer activities have a higher impact on your credit score than old ones.
Equifax and Transunion are Canada’s biggest credit bureaus that collect and store your credit information from lenders. Public record information such as court orders, debts, liens on properties is provided to credit bureaus.
Before a lender or creditor lends you money, they will check your credit report from a credit bureau. Credit reports are also a way for lenders to share information and to show how you managed credit in the past.
It is also worth regularly checking if your credit report is accurate as you don’t want to have a bad record appearing in your report. A Free Credit Report is also beneficial, so you can review your credit and maintain accuracy.
However, it is worth noting that a free credit report will not show the same information as what lenders will see if they request it from their end. The suggested frequency is to check your credit report at least annually.
According to Equifax, ones’ credit score is calculated based on the following criteria:
As you see above, payment history has the highest impact on someone’s credit score. One late payment can dramatically lower your credit score.
The longer you’ve had credit, the better your credit history and your credit score. However, if you have credit for over 10 years and handled the debt poorly with a significant amount of money, you can still have a low credit score.
Maxing out your credit limit is very bad for your credit score. Also, applying so often for new credit will negatively impact your credit score as it will show how desperate you are for credit.
Managing your money, in general, is the best way to manage your credit history. Having a plan and creating a budget to avoid credit mistakes that will damage your credit report is ideal for maintaining a good credit history.
How well you manage your credit is the big picture. If you are working on repairing your credit score or rebuilding your credit that has been damaged by bad decisions, follow these steps to better manage your credit.
To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.
No contact details required to find out if you qualify
We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.
Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!
Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.
SEE IF YOU QUALIFY TO:
No contact details required to find out if you qualify
A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.
Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.
No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.
The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.
This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.
If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.
After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.
A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score.
National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.
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