As a thank you to our loyal clients, we want to announce our Langley Auto Loans Summer Special, this July only! We are giving every client that purchases a vehicle in July a free TV! There are no restrictions on the type of vehicle you buy, you only need to buy a car and get… Read more »
Monthly Archives: July 2015
What is a Consumer Proposal vs. a Bankruptcy? Have you ever wondered what the differences between a consumer proposal and bankruptcy are? You arenâ€™t alone! We are here to debunk some myths and set the record straight on these two types of debt processes. A consumer proposal is a legally binding process that allows an… Read more »
When spring time rolls around, we often think to clean and organize our homes for a fresh start. We would recommend that adding your credit to that yearly spring clean would go a long way to improve your credit. If you arenâ€™t sure where to start, here are a few tips that will help to… Read more »
We are often asked about credit scores, the credit bureau and Equifax. We believe that most of the confusion about credit scores comes from miscommunication or second hand information. To further complicate this situation, it takes a Herculean effort to locate or speak to anyone at Equifax. This has caused the credit bureau to appear… Read more »
There was a recent news story from Kelowna, BC regarding vehicle refinancing. A couple in Kelowna purchased a vehicle under a credit challenged program. Upon signing the paperwork for their vehicle, they were told that their loan would be rewritten with a lower interest rate in one year. After one year passed, the couple was… Read more »
Most credit cards come with a credit limit that is calculated with interest monthly. For example, if you have a credit card with a $500 limit, that means you have $500 available to use. However, it is important to remember that the credit limit includes the interest of your purchases as well. So if you… Read more »
People donâ€™t realize that consumer proposals appear the same as a bankruptcy on the credit bureau, which then affects a decision from the â€œpotentialâ€ lenders.
Did you know that Gym memberships are one of the most common things seen under collections on credit bureaus? When considering Membership keep in mind that you are signing a contract and are responsible for the full balance should you decide to stop going! Consider gyms that offer monthly payment or drop in options
1. Paying bills late 2. Not paying the minimum amount required 3. Keeping debt levels too high 4. Owning too many credit cards 5. Not alerting current or potential creditors if youâ€™ve moved or changed names 6. Not periodically checking your credit report 7. Not using your full legal name in financial documents 8. Too… Read more »
Fact- Most of the cell phone companies now report to the credit bureau. So not only do they go after you for missed or late payments, it now effects your credit score!