Resources

Resources relating to credit and debt

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.

How Credit Bureaus Collect Your Information

There are 3 main credit bureaus in Canada and they all get information from similar sources, mainly you, and from the companies and banks that you do business with. Read about the information they collect and how they collect it. Anyone who is concerned about their credit should read this section about the collection of information on the credit bureau report in Canada...

Canada's Credit System

Canadian owned and operatedCredit reporting agencies or credit bureaus, collect information about consumers' financial affairs and sell that information to their business members, such as credit grantors, employers and insurance companies. The credit bureaus charge annual fees as well as a fee for each credit report requested by members.

In Canada, there are three major credit bureaus: Equifax Canada, NCB Inc. and TransUnion Canada

Most national and international creditors, such as banks and department stores, are registered with all bureaus, so the chances are good that whatever shows up on one credit report will also appear on the others. This makes it simple for you to check your history.

Credit & Debt Resources & Information

Canada Debt Settlements Inc. has compiled information regarding all aspects of credit and debt in Canada. We are constantly adding more information to this section, and we hope that you find these resources useful.

You will find information in this section that discusses the Credit System in Canada, different debt-reduction options, and information about your credit report and the information it contains.

Please start by selecting one of the below categories to get started learning about how credit and debt works for Canadian consumers. If you have any suggestions for new content please do not hesitate to contact us and we would be happy to provide you with the information that you are looking for.

We have licensed and bonded agents standing by to answer your direct questions about credit and debt in Canada.

Debt Reduction Services - Live With Freedom From Debt

Learn how to significantly reduce your debts with our debt reduction programs... - Debt reduction can have advantages and disadvantages - you must be sure that you are utilizing the solution that best meets your needs in regards to debt savings and timetable for repayment.

Canada Debt Settlements can assist you with the following Debt-Reduction Services:Let Canada Debt Settlements show you all of your debt reduction and repayment options - stop collection calls

  • Combining all your debts into one manageable monthly payment
  • Reducing your interest and shortening your payment plan
  • Assistance with household budgeting and expense savings to reduce monthly expenses
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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