Once you're financially back on track, a good habit to get into is to 'pay yourself' every payday. Simply, it is taking 5% or 10% (if you can save more, that's a bonus) of your paycheque and setting it aside in a separate bank account. Or put it towards paying off a GIC loan, like above (if you get a demand loan for the GIC, that's the best, because you can pay off as much as possible as often as possible). The idea is to establish some financial discipline. You want to do things and achieve success - well, you need money. Saving 5% or 10% is not as big a sacrifice as you might think; after a while and a bit of adjustment you won't even notice it.

View Printable Document

Select Text Size

Credit Report Repair

According to recent studies more than 3 in 5 consumers have negative information in their credit reports, and nearly half of the studied reports contained errors (a full 35% of credit reports contain errors). The Credit Reporting Act addresses this issue. K & G Debt & Credit Professionals can help you to have this information removed from your credit report.

If the derogatory information on your credit report is true, then with time and the resolution of your debt K & G Debt & Credit Professionals can help you to improve your credit rating. K & G Debt & Credit Professionals will also be happy to give you any information that we possess in order to aid you if you decide to repair your report on your own.

The following information on how to repair inaccuracies on your credit report is provided on the Equifax website along with additional information that may be helpful.

Relevant information is also provided on the TransUnion website.

First you will need to complete a Consumer Credit Report Update Form.

Once complete begin by contacting Equifax.

Telephone Equifax at:

1 800 465 7166 between 8:00am and 5:00pm ET

Write to Equifax at:

Equifax Canada Inc.
Consumer Relations Department
Box 190 Jean Talon Station
Montreal, Quebec
H1S 2Z2
Send an e-mail request to: consumer.relations@equifax.com

If you use an e-mail program other than Netscape or Internet Explorer, please copy and paste the address into your preferred e-mail client.

After Equifax receives your call, letter or e-mail request, they begin the Dispute Resolution process.

First, they review and consider the information you have sent them about your dispute. If this initial review does not resolve the problem, they will continue their investigation. This involves contacting the submitter (creditor) of the disputed information on your behalf to review the details. They will investigate and report their conclusions to Equifax. Based on their findings, Equifax may make changes to your credit file. If the disputed information is correct, they will not make any changes.

Equifax will send you a revised credit report if changes are made as a result of the Dispute Resolution process.

They will also send your revised credit file to any company that requested your credit file 60 days prior to the change. In some cases, it may be a period longer than 60 days.

Did you Know?

Are you a candidate for Debt Settlement?

You qualify if you are:

An individual or family that owes at least $10,000 in unsecured debt.
Someone who cannot make or continue to make their monthly minimum payments.
Or anyone who does not want to claim bankruptcy.

Learn more about qualifying