Equifax Canada and TransUnion Canada creates consumer reports.
Are Credit Repair Programs Legal in Canada?
Yes, of course. Thanks to the CPA, it is legal for individuals to pursue credit repair programs as long as there is a written contract between all the parties.
How can we fix your credit score? There are the legal steps we take to remove unverifiable negative accounts from your credit report aggressively:
- Firstly, we analyze your Equifax and TransUnion Canada credit reports to find inaccurate or unverifiable negative accounts that are harming your credit health. Then we sent dispute letters to the credit bureaus. The dispute letters are carefully drafted by experienced lawyers, making the creditor prove that the account belongs to you and was delinquent. The burden of proof is with the creditor and not your responsibility.
- Once the credit bureaus receive our initial dispute letters, they will have 30 days to investigate our dispute and send in an updated credit report. There is a big chance that the argued accounts will be deleted/updated and eliminated from your credit history. Automatically, this increases your credit score. We will send dispute letters to each of your creditors demanding proof that you physically opened these accounts for each account that remains active. For example, if your signature is not correct on the reports, then the creditor can face hefty fines from the CPA, and you will be entitled to sue in civil court for defamation.
- Based on our activity in step 2, the creditors will have 30 days to provide evidence. Either the creditors will respond, indicating that they’ve removed the accounts from your credit reporting, or they will provide proof that the account belongs to you. If the creditors do not remove the account from your credit report, then we can prove on your behalf that the creditor does not have the right documentation on the history.
- If the account is not deleted, we will file a secondary dispute with Equifax and TransUnion, indicating that the creditor has failed to provide ample evidence. After 30 days, these accounts will be permanently deleted from your credit report.
NAB solutions credit repair services have helped many clients legally remove millions of questionable negative accounts from their credit reports. It is common practice for us to have late payments, collections, charge offs and bankruptcies removed from your credit report.
Rest assured that we can do the same for you. Contact NAB solutions today for a free personalized credit consultation to learn more about your credit rights. After a quick consultation with us, you will understand precisely how our credit repair services can help you improve your credit rating. With credit repair, you can achieve your financial goals quicker.