How to repair your Equifax credit report

Why repair your equifax credit report?

You will want to repair your equifax credit report in order to get good credit. If there are errors to your report, you can fix this in just a few steps. Further to this, if you do have bad reporting, this may also be fixed very fast.

Things you can do to keep a strong equifax credit report

Pay off collections:

Make sure you avoid getting collections and pay off any collections you do have. As soon as you pay everything off, your credit score will start to increase

Pay all balances within 30 days:

This show as R1 on your credit report. The more 1’s you have on a credit bureau, the better and longer your credit has been on a trade line. Equifax will look at this and reward you with a strong score

Dispute information on your credit report (errors) here:

  https://www.consumer.equifax.ca/personal/dispute-credit-report

Dispute unauthorized credit pulls:

Car dealerships are notorious for pulling your bureau up to 20 times in day. This is not legal and it drops your score significantly.

When you make these disputes, in most cases the negative pulls will be removed from your credit bureau, thereby increasing your credit score.

Lawsuits:

If you have a lawsuit, Dispute this with evidence that the lawsuit has been paid or settled.

Pay all credit cards and lines of credit on time!

Pay your student loans on time: Don’t forget when repayment starts.

Pay your revenue Canada Balances:

They are allow to report owing to the credit bureau as well as garnish your wages!

Put as many of your payments on auto withdrawal from your credit cards

, so that you get the points and the bills are paid on time.

Refinance vehicles to pay off high interest debt (We can assist with this)

Avoid consumer proposals!!!

Sometimes these are presented as consolidation loans.

Make sure if you move, you let all of your creditors know

Check out our other video about repairing your transition report.