Information relating to the credit and lending industry

What Information Is Contained In My Credit Report?

Information on your credit report in Canada falls into the following general categories:

  • Identifying Information - Your full legal name, address, and date of birth
  • Credit History (Trade Lines) - comprehensive history about your credit utilization
  • Public Records - Judgments, bankruptcy, consumer proposal
  • Inquiries - Are you applying for credit often?
  • "Other Information" - Bank account overdraft, Collection Activity

Read about the information the credit bureaus collect about you, how it is used and interpreted by your creditors when considering applications for credit, and how you can control and update incorrect information.

Consumer Disclosure - Your FREE Credit Report in Canada

The Canadian consumer is responsible for the information contained in their credit report. This information is your complete financial history in the eyes of banks, lenders, and other financial and credit institutions.

As a consumer it is your right under the law to review your credit report and check the entries for accuracy.

There are may ways to obtain your credit report and often times we find that our clients are under the impression that they have to pay to obtain a copy of their credit report and the information it contains. We have news for you! The Government of Canada made a free credit report available to every consumer in Canada, in addition you can review your credit report from any or all 3 credit bureaus in Canada once per year at ABSOLUTELY NO COST to you.

Frequently Asked Questions

This is our Frequently Asked Questions Page:

  1. Do I have to walk into your office if I qualify?
    At Canada Debt Settlements, we deal with clients all across Canada via telephone, fax & e-mail. Physically visiting our office is an option of course, but not a necessity.
  1. Is Canada Debt Settlements licensed?
    Proudly licensed by the Ministry of Government and Consumer Services, we realize at Canada Debt Settlements that disclosing personal financial information with anyone in general is definitely not on the top of one's priority list. Simply put, most individuals would rather not discuss their financial hardship unless necessary. We understand it is a very emotional subject and want you to feel completely comfortable when approaching our services. Our clients' funds are fully protected and insured by our Trust Account (Similar to a lawyers) and provincial bonding to ensure that settlements, when approved, are processed efficiently.

How to Obtain Credit once Declined

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5 Steps to Repair your Credit - Continued

Believe it or not - the next step to improving your credit is obtaining more, especially if the only history you've viewed on your credit report is not favorable. If your credit history is not too bad in terms of payment history this step may not apply to you.

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.

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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