How to repair your credit

repair-your-credit

Repairing your credit

Working to repair your credit will take time to help you reestablish a good credit rating. Remember that persistence will pay off in the long run. After you have been discharged from your bankruptcy, credit reporting bureaus report the bankruptcy assignment 7 years from the date of the discharge.

Tips and Advice on Repairing your Bad Credit

If you do not already have one, open a savings account. Having a savings account is a good idea regardless, as it is advised to have some savings available for any possible emergencies that can arise. Once you have your savings account opened, start making regular deposits. Try to keep making deposits every payment or on a monthly basis.

Talk to your banker. Make an appointment, meet with them and let them know you are working on repairing your credit. They can help provide some additional advice and tips from their perspective.

Make sure you do not get a large number of credit applications in a short time frame. Having too many possible lenders ask for your credit history in a short time could have negative results on your credit score.

With credit cards, typically the higher that your balance is, the more this can affect your credit score. If you do have a credit card, try to keep the balance low. Also with your credit card or line of credit, it is important to make regular payments, and avoid missing any payments as missing payments can have a negative effect on your credit rating.

To repair your credit rating, it will take time to help reestablish a good credit rating. Lenders need to see that you are able to make your payments on time, and that you are properly handling all of your loans and/or credit cards.

 

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt and live in the Toronto area, call us at 416-498-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
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20:18 16 Jun 22
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15:10 14 Jun 22
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12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
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21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
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12:11 04 Jun 22
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21:34 18 May 22
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01:24 11 May 22
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03:08 10 May 22
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prettylush 13
02:42 10 May 22
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