Credit Problems? How to legally reduce or eliminate all your debts.
DO YOU HAVE TOO MUCH CREDIT CARD DEBT?
MONEY PROBLEMS? ARE YOU OVER YOUR HEAD?
Can't Pay Bills?
Getting Collection Calls?
HERE ARE THE CREDIT WARNING SIGNS.
Credit Danger Signals?
DO YOU OWE TOO MUCH TO PAY?
ARE STUDENT LOANS KILLING YOU?
ARE YOU OVER YOUR HEAD?
BEHIND ON YOUR BILLS? CREDIT PROBLEM? BAD CREDIT RATING?
Read these Warning Signs and Credit Danger Signals. You Need To Recognize And Address Before Your Financial Issues Become Serious. Remember bankruptcy is not the only option.
You cannot hide or run from your debts.
You already know if you are in trouble.
You need to face it and determine how bad it really is before you can determine the best course of action to achieve financial stability. You need to take a hard look at where you are right now.
Yes you can get out of debt. There are many options available to getting control of your finances.
THERE ARE MANY WAYS TO DEAL WITH DEBTS: Browse these pages for the choices you have to solving your financial burden including a consolidation loan or credit counselling services.
You can reduce your debt substantially by making a consumer proposal. Consider that going bankrupt is not the end, it is a good solution in many cases. You can live a normal life and be debt free. Take the time to learn about the credit solutions and then take charge of your finances.
What are some warning signs of bad credit and or that a person or business is having problems with debt and credit?
Common warnings signs of poor credit include loan application getting rejected, issuers closing credit cards, and debt collection agencies contacting you for enforcement.
Credit Warning Signs
Do any of these credit warning signs
apply to you?
If you answer yes to any of the statements listed below, you have financial problems and are heading for trouble. The longer debt is ignored, the worse it gets and the more difficult it becomes to fix your problems. What are warning signs of bad credit?
- My credit cards are maxed out or over the limit.
- I live in debt on my overdraft. I can't pay my bills.
- I have no money, bad credit and owe too much money to too many companies.
- I am spending 20% or more of my take-home pay on loans and credit card monthly payments.
- Creditors have threatened to sue, repossess my personal property or hire a collection agency to recover their money.
- My wages are being garnisheed to pay for outstanding debts.
- I borrow money for household expenses from friends and family to make it from one pay cheque to the next.
- Utility companies have cut off service because of outstanding bills.
- I go over my spending limit or use credit cards as a necessity rather than a convenience.
- I only make the minimum payment on my credit card balances.
- I have received second notices about overdue accounts.
- I pay one creditor one month and another the next because there's not enough money to pay both.
- I have many missed payments or late payments.
- I pay excessive interest or service charges because I don't pay bills on time.
- I am renegotiating loans to cut monthly costs or looking for a way to consolidate loans so I can pay off old bills and a few new ones.
- I am looking for a loan to pay off other consolidation loans.
- Finances are affecting my health, job or marriage.
- Do I need to go bankrupt?
- My credit rating and credit scores are bad.
- I am being sued or have judgments against me.
- I am afraid to answer the phone because it might be a collection agency calling.
- I am spending 20% or more of my take-home pay on loans and credit card payments.
- I have huge student loans which I just cannot pay.
GET LEGAL ADVICE HERE
Ask a lawyer about your credit card debt problems or how to solve money issues and become debt free. Click here for your free referral
CAN'T PAY YOUR BILLS?
If you are not making your monthly payments, are maxed out on your credit cards and loans, you have serious money problems.
You have a bad credit rating with Trans Union and Equifax. Your credit score will be bad and this could lead to employment problems and worse.
This CanLaw section provides you with many potential solutions to help you get out of debt.
You can obtain your credit report free of charge from Equifax and Trans Union. You should monitor it twice a year for changes and to protect yourself from errors and identity theft.
THERE IS NO SUCH THING AS CREDIT REPAIR. Do not pay any company to rebuild your credit rating.
There is nothing they can do to change your credit rating.
WHERE TO GET YOUR CREDIT REPORTS
709 Main Street W
Hamilton, On L8S 1A2
Tel: 1 800 663 9980
Fax: ( 905 ) 527-0401
WHERE TO GET YOUR CREDIT REPORTS
Equifax Canada Inc.
Consumer Relations Department
Box 190 Jean Talon Station
Montreal, Quebec H1S 2Z2
Tel: ( 514 ) 493-2314
1 800 465-7166
Fax: ( 514 ) 355-8502
Why do I need to build credit?
If you need a mortgage, home loan or auto loan, you’ll need good credit.
Landlords will require good credit to rent an apartment.
On line Since 1996
CanLaw Guide to the Law on Debt for the Layperson