Credit Ratings as viewed on your credit report

There are 2 types of credit ratings in Canada - On your bureau both YOU and Your DEBTS have separate ratings.

Accounts rated R1 or I1 are either credit cards, retail cards, loans or lines of credit that have been paid per the agreement with the creditor and are currently in good standing.

An Individual may also have a derogatory credit rating assigned to them in the case of orderly payment of debt or Credit Counselling Services. Remember: Canada Debt Settlements negotiation services DO NOT result in any derogatory marks on your credit bureau report.

Both credit ratings follow the same scale:

R0
Too new to rate; approved but not used.
R1
Pays (or paid) within 30 days of billing; pays account as agreed.
R2
Pays (or paid) in more than 30 days, but not more than 60 days, or one payment past due.
R3
Pays (or paid) in more than 60 days, but not more than 90 days, or two payments past due.
R4
Pays (or paid) in more than 90 days, but not more than 120 days, or three or more payments past due.
R5
Account is at least 120 days overdue, but is not yet rated 9.
R6
(Code 6 does not exist.)
R7
Making regular payments under a consolidation order or similar arrangement.
R8
Repossession (indicate if it is a voluntary return of merchandise by the consumer).
R9
Bad debt; placed for collection; skip.

See what your credit report contains by visiting our page on your Credit Report.

For a list of all our services please see our Services Page or Contact Us.

Canada Debt Settlements  always free debt reduction consultation - Call to figure out your best next step... Contact us

Access our online debt reduction settlement application for a free confidential no obligation review of your situation

Canada Debt Settlements stands by the commitment and service guarantee that no client will be charged unless we can achieve a debt reduction. As our customer testimonials will demonstrate - we have a unique solution that allows a licensed agency to advocate with your creditors on your behalf. We work for YOU... not the creditor. Call now to speak with an experienced and licensed debt professional. What do you have to lose?

Another Successful Debt Settlement...

I must say that I always ‘do my research’ in every area of life as best as I can so that I make the right purchase the first time. Well, this was not an area I was even remotely able to make a definitive call on since my wife and I never had any previous debt issues.
I researched and met up with many different Debt Resolution/Debt Solvers and tried to work with making monthly lump payments but it wasn’t the correct solution and in the end failed for us. I started researching into solving our Debt problems all over again when I came upon the idea of Debt Settlement…that was the correct solution and something my wife and I should’ve done the year before. The problem was who could we trust to do it and who was the best person for the job. That was our newest problem.
I started making calls and looking up as much information as I could get on the Companies that did this and I was confident that Canada Debt Settlement were the tops in this area so I called and spoke to Boaz. I was actually somewhat shocked as he had answered my questions and explained the way it worked so well I had no more questions the next day. This was a relief as the time frame for us was very tight and to this day I am amazed that everything was settled going right down to the wire on our tight schedule and that Boaz still managed great savings for us in the process. It pulled us right out of debt and had we called Canada Debt Settlement the year before we would’ve saved even more and not carried that Debt burden unnecessarily for an extra year.
If you’re doing your research looking for who is the right one for the job, I can honestly tell you save your time and money and go with Canada Debt Settlements. I would be happy to talk to anyone that has any uncertainty as the expertise and hard work Boaz did for us was truthfully incredible.
S.B. of Mississauga
Received Dec 23, 2013 via email
Total Savings: $18,000+


Call now for your free no obligation consultation 1-877-475-3939