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Harmonized Debt Collection Act? |
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It can’t happen soon enough for Canadian debtors.
For a number of years our Federal, Provincial and Territorial Ministers, responsible for Consumer Affairs, have been working towards creating a consistent approach for debt collection standards in Canada. Now, it appears that all their hard work will soon payoff for Canadians.
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Design Your Own Credit Rating |
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Credit Bureaus
Did you know that there are THREE credit bureaus in Canada?
That’s right THREE - they are:
Northern Credit Bureau
Trans Union of Canada
Equifax
You have always been able to receive your Credit Bureau Report free by mail.
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Debt Free Accounts |
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Credit Bureau Reports and Bank Accounts
Always, always, always…. maintain a bank account in a financial institution that you do not owe any money to - A debt free bank account. That way, if you ever end up experiencing financial difficulty you will still be able to operate your account without fear of it being closed down or emptied by the credit grantor – your bank.
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Credit Scoring |
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Did you know that by applying for credit you could hurt your own credit score?
Effective since last week, it is now possible to get your credit report online. Equifax Canada Inc. has just introduced online access to your credit bureau report. However it is not free - on line access will cost you $14.50. If you also want to know your credit score that will cost you an extra $7.45. It is interesting to note, that if you apply by fax or in person in most provinces it is free. However, the bureaus will not give you your credit score.
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