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How Can I Improve My Credit Score?
Pay all of your bills on time. Paying late, or
having your account sent to a collection agency has a negative impact
on your credit score.
Try not to run your balances up to your credit limit.
Keeping your account balances below 75% of your available credit
may also help your score.
Avoid applying for credit unless you have a genuine need
for a new account. Too many inquiries in a short period
of time can sometimes be interpreted as a sign that you are opening
numerous credit accounts due to financial difficulties, or overextending
yourself by taking on more debt than you can actually repay. A flurry
of inquiries will prompt most lenders to ask you why. However, most
scoring formulas will not penalize you if, for example, you are
shopping for the best mortgage rate or the best car loan.
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| Sample Client Contacts |
'Hi, I owe approx $25,000 for a Canada student loan and have been out of school since 1998. I had been thinking bankruptcy but I am not sure about that. I would appreciate a consultation to try to determine what the best course of action would be. My biggest fear in this case is if it comes to the point where they garnish wages. Thanks.'
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