Tag

credit history
Rebuild credit score during consumer proposal This is another question in the Ask Ross series where you can ask me anything about personal finances. If you have a question for me ask here. This question comes from William who is paying down his consumer proposal and trying to rebuild his credit at the same time....
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Credit score needs a quick increase Hi Ross, I have a client who wants to close a couple of NEW credit card accounts for the purpose of adjusting their overall credit balance to credit limit ratio. Is that a good idea? Don’t close the cards unless a lender insists. The quickest fix bar none is...
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So many times when I meet homeowners in debt stress, the first thing they say is they intend to keep their house – come hell or high water. “Find us a solution Ross, but we insist on tying your hands behind your back in the process.” In some cases, it’s actually quite doable. If, after...
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Keeping Credit Cards With a Consumer Proposal? Hi Ross, I have gotten myself into a pickle. I owe $60,000 on my personal line of credit and two credit cards. I cannot repay this in my lifetime or the next. But I still have two more credit cards with available credit of $40,000. Someone told me...
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Can He Remove a Derogatory Item From His Credit Report? A week or so ago, Ellen Roseman, wrote a column in the Toronto Star about cleaning up errors in your credit report. This resulted in a small deluge of emails from readers with their own personal tales of woe. Ellen asked me to help respond...
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Homeowners Eliminate Debts Without Declaring Bankruptcy Our consumerist society often gulls people into spending beyond their means. In my business, I meet these folks every day. As recently as a few years ago, many would simply refinance their homes; pay off their credit card debt, and begin the vicious cycle all over again. But that...
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Buys a Strip Club, Gets Ripped Off By Boyfriend Dear Ross, I have worked in a busy gentleman’s club for three years as a bartender. Last year I began dating Sam the owner, and he suggested I put together the money to buy the club, as it was ‘printing money’. I was very intrigued. He...
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Just released last month, Ellen’s new book Fight Back – 81 ways to help you save money is flying off bookstore shelves. Lots of practical advice to save money and win those battles we always seem to find ourselves in with banks, telecoms, airlines etc. I was very pleased when Ellen asked me to contribute...
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Dear Ross, we are looking around for our first home, and we want to know how much mortgage we will qualify for. If we ask for a pre-approval, will you have to check our credit history? Is that a ‘hard inquiry’, and will it reduce our score? Yes, if we do a formal request for...
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