FAQ
Yes, it’s your right to do so. According to the Canada Consumer Protection Act (CPA), individuals have the right to protect themselves against creditors and credit bureaus. While you can try to fix your credit yourself, we recommend working with credit repair specialists who work with lawyers’ guidance to get the best possible outcome for you.
It is your right and responsibility to ensure that your credit report is accurate and up to date. As a consumer, if there is information on your credit report that is misrepresented or is not you, then you have the right to question that the delinquent information be removed from your credit record.
Yes, absolutely. Our responsibility is to help you fix your past credit rating. If you happen to go into debt again, then you will continuously be working with us. Our objective is to help you repair your credit score and provide you with strategies to improve your credit continually.
Making sure that your bills are paid on time each month is critical for building your credit score. However, paying your bills will not erase bad credit from your record. Our clients enjoy working with us to tackle delinquent historical accounts, which will dramatically improve your credit rating.
Foreclosures will negatively impact your credit rating and make it more difficult to purchase another home in the future. However, it is possible to remove a foreclosure from your credit rating. This is possible when your credit report shows inaccurate information about the foreclosure when the seven-year credit reporting expires when a voluntary dismissal of the foreclosure is granted, and a lack of evidence to verify the foreclosure. Alongside this, a foreclosure can be removed from your credit rating if the lender went out of business. Do any of these scenarios apply to you? If so, contact us for a free consultation.
No, this is illegal. If any credit repair agency promises to give you an utterly blank credit history, you shouldn’t believe their claim. What they would do is switch out your social insurance number and create new reports. This is illegal, and if you are caught, you will be facing more than just a bad credit score, as you could also be subject to penalties for committing a serious crime.
Trust a company like NAB solutions to take the legal avenue to repair your credit. We work with professional lawyers to create custom dispute letters on your behalf. We work with credit bureaus to remove negative credit from your report, the legal way. We would never suggest any other way than the right way.
Typically, you can expect to see results within 60 days. However, credit bureaus have up to 45 days to process each dispute. Depending on how many disputes you have, the credit repair process can take up to 3-12 months. The quicker you get started, the quicker you can begin to see positive credit rating results.
Payment history, credit use, credit maturity, credit mix and recent credit reporting are the five components that affect your credit score. The most critical element is your payment history, which is what our credit repair specialists focus on. By eliminating delinquent credit from your report, we are therefore changing your payment history. This is how we can improve your credit score.
The largest component of your credit score rating is based on both timely and untimely payments. This takes up 35% of your credit score. Another 30% depends on the amount and types of outstanding debt that you have. 15% depends on the amount of time passed since your accounts have been opened, and 10% depends on the number of recently opened accounts and recent credit checks. Depending on your situation’s nature, if you are hoping to increase your credit score, we might tell you to open a new credit card. However, as mentioned, the majority of what affects your credit score is past on-time payments.
Credit repair means fixing your delinquent credit in any way. However, credit repair can also refer to disputing errors on your credit reports to improve your overall credit standing.