Credit Rehabilitation
What Does Your Credit Score Mean?
Your credit score is a numerical indication of your creditworthiness. It is the primary factor that creditors and lenders use to decide whether or not they should extend credit to you.
Moving Forward
After you have paid out your outstanding debt load we will continue to work with you to re-build your credit rating and retirement savings portfolio as well as designing a financial plan to help you, our client, move forward in the short term in a productive and financially healthy manner.
Moving forward we can show you ways to rehabilitate damaged credit through a variety of financial tools available to us as well as balancing income with expenditures in an attempt to change the very way our client thinks and acts.
Our ultimate goal is to rehabilitate our client to a point where they can become a debt-free, confident member of society with a solid financial plan and firm outlined goals moving forward.
How Can I Repair My Credit?
1. Borrow fully secured money. Secured debts are those that are backed up by some sort of asset or guarantee. The most common examples are car loans, Investment loans, or mortgages. If you don’t pay, the creditor sells the “security”. A variation on this is to have someone co-sign or guarantee your debt. In this case, they will be granting credit to your co-signer, not you. If you repay the loan, your record will benefit.
2. Obtain a secured credit card. Placing a sum of money on deposit with a bank and pledging the money as security for the card does this. If you don’t make your required payments, the bank will withdraw the money from your deposit and reduce your available credit accordingly.
3. Start an RRSP. For some reason, banks view people with RRSP’s differently. It demonstrates that you’re looking towards your future and creating POSITIVE NET WORTH. Even a small consistent monthly contribution can go a long way to improving your position with credit grantors. This will cause a marked improvement in your report.
4. Borrow when you don’t need to. Obtain a small leveraged investment loan. Make regular payments and over time, it will have a marked improvement in your credit report.
We are proudly providing proven financial strategies to create, build, protect, and transfer your wealth. Call us today at 1 (888) 704-1255 or Apply Now.
Second Mortgages
Borrow equity from your home and use the money towards a bigger purchase you couldn’t afford otherwise or cash out, consolidation of debt, etc.
Debt Consolidation
Debt reduction system that allows you, our clients, to combine all your unsecured debts into one low-cost monthly payment. Instead of sending out payments on six or seven banks and store credit cards, you would simply make one low monthly payment.
Credit Rehabilitation
Your credit score is a numerical indication of your creditworthiness. It is the primary factor that creditors and lenders use to decide whether or not they should extend credit to you.
Home Equity Line Of Credit
Looking for flexibility and minimum restrictions, a line of credit is the answer.
Powe Of Sale & Foreclosure
Missing mortgage payments can be crucial to the ownership of your home. Mortgage payments are expected to be made on time and failure to do so can lead to major financial consequences for the borrower.
Lending Opportunities
Canadian Financial Solutions is a key figure in the private markets and has the experience that can help create the right investment for any risk portfolio with access to a wide variety of investment options taking into consideration your specific risk tolerance.