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One of the biggest factors in action when it comes to getting a loan is your credit score or in other words your credit report. 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.


How can I repair my credit?

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.

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.

Start an RRSP. For some reason, banks view people with RRSP 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.

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.


How can CFS help me?

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 clients to a point where they can become debt-free, confident members of society with a solid financial plan and firm outlined goals moving forward.

We are proudly providing proven financial strategies to create, build, protect, and transfer your wealth.

Call us today at 1-888-451-6133 or fill out our contact form.


If interested in learning more,
Don’t hesitate to reach out to us today.
CFS wealth 1-888-451-6133
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