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CREDIT REPAIR not a magic wand that fix your credit rating in Canada

Ontario's Consumer and Commercial Relations Ministry warns that "people who want to improve their credit ratings should know that no company can wave a magic wand to instantly raise their grades. 

"Some consumers think that a credit repair company can provide a 'quick fix' for a bad credit rating ... In reality, the only way to improve your credit rating is to work with creditors and improve your payment habits over the long term." 

(EDITOR'S NOTE: A secured VISA credit card is the best way to rebuild your good credit name in Canada by demonstrating your responsible use of credit over 18-24 months. Not a 'quick' fix but a reputable long-term solution to fixing your poor credit history).

The ministry warns Canadian consumers about any promises to change or erase accurate credit information, especially if you have to pay money to make that happen. 

If you're worried about the accuracy of your credit files, or curious about what's in them, you can contact credit bureaus and obtain that information. Such access is free, and if an error does exist, credit bureaus are obliged to change it.

(EDITOR'S NOTE: You can also obtain your credit report easily and inexpensively online from two secure and reliable sources: Equifax Canada and iQuiri).

Access to those records is strictly controlled and every time a file is accessed, information on who's looking at it is recorded. 

The files list debts and credit obligations, along with files for bankruptcies for the previous seven years in Ontario. No amount of letter-writing or phone calls to the credit bureau can change that information -- if it's accurate -- before those seven years are up.

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