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Score Credit
Consumers spend too much on housing In our zeal to qualify for a mortgage, we strive to meet the debt service ratios used by all major mortgage lenders. The rule of thumb the lenders use is your mortgage payments, property taxes and heating bills should be less than 32% of your gross monthly household income....
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What is my credit history You should care very much about your credit history. I cannot overstate the importance of building and maintaining a strong credit history. Life will go so much smoother if your credit history is free of blemishes. A great credit score makes all the difference. Here is an article I wrote about the...
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7 secrets about credit 1)   Your credit score changes all the time You can check your own credit score at either Equifax or Trans Union’s website. The report will remain available to you online for a month – but remember, it is changing all the time, as new information is collected and sent to the reporting...
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Dear Ross, I hope you can provide an answer to my question. I paid off a consumer proposal in July 2010 so it should drop off my credit bureau in July 2013. I currently have a beacon score of 600. What sort of increase in my score can I expect when the proposal drops off my...
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Rob Carrick’s Facebook page (17,500 subscribers and counting) recently sparked a discussion about debt coaching to help debtors find relief from the oppression of carrying too much balances on their available credit. Eric Putnam from Debt Coach Canada stepped in to explain how his company helps Canadians get out of debt. Eric said “our fees...
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Dear Ross: One of my clients had a credit card that was written off 10 years ago. I know after 7 years it does not report on the credit bureau but she doesn’t even have a credit history any more. If we get her another card, will the creditor be able to come after her...
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Accessing your credit report Many people ask the best and easiest way to access a copy of their personal credit report. They are often surprised to find there are many different ways to do so. There are three things to consider. How fast can I get it? How much will it cost me? Will I...
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We wrap up this first interview with Jordan Rumanek who is a licensed Trustee in Bankruptcy and Administrator of Proposals, whose firm Rumanek & Company Ltd. processes well over a thousand insolvency files each year in the GTA. Today we want to understand how bankruptcy affects people who have a failed business on their hands....
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Hi Ross, I have a Royal Bank Avion card which I have not used in several months. In fact, I rarely use my RBC bank accounts, and as a result, I have no reason to check them very often. I don’t recall doing this, but apparently I switched over to paperless statements for all these...
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