Toronto Escorts

Bad Credit Report-Equifax HELP?

Status
Not open for further replies.

Johnny Wadd

Banned
Apr 4, 2004
70
0
0
Canada
Can anyone here help me out with a situation?

I don't know if some of you have run into problems with equifax canada in the past or present but I have a rather bad situation at hand.

I have an opportunity to land a very high profile job but the company that is doing a credit check/background probe have noticed a few R9 ratings on my credit report!
I couldn't understand this because I pay my bills on time and in the past had a problem with a few credit card companies that led to an account being closed upon an agreement.
It appears that the 2 R9 on my credit file will be there for the next 6 years even though the accounts are paid in full and after an agreement was made to pay them. Talk about making a deal with the devil! I pay the credit card company's and they still screw me!

Can someone recommend a company that deals with credit repair that isn't a scam?

I would really appreciate this help if anyone can lead me to this solution! Thanks!
 
http://www.creditcanada.com/

They are a reputable not for profit and can give you all the info you need to expedite your situation.

I've dealt with Equifax in the past and they are complete assholes until you arm yourself with info - then they are willing to work with you.

Good Luck!
Sab.
 

The Shake

Winner (with a capital W)
Feb 3, 2004
1,846
0
0
Maryland
www.drivenbyboredom.com
Johnny - There really isn't such a thing as credit repair, other than time and not making further mistakes. Sab's link is a valuable one, but I'm not sure that it will help you in this circumstance.

Unless the flags are inaccurate or due to fraud/identity theft, its unlikely that they will be removed.

I would suggest letting your potential employer know, in writing, what they will find in the credit check and why. Better that you set the context and let them balance the negatives against your value as an employee than for them to feel that you've hid things from them.
 
Shake is right - the link I posted may not be able to "fix" your problem. I would still recommend calling them to get information on your situation - which would be very useful in helping you disclose this information to your potential employer.....

Sab.
 

freakshow

Active member
Dec 20, 2002
2,039
1
38
Unfortnaelt an r9 cannot be removed..........but if the credit cards that you have already paid went to collections and thats were you made the deal.....


Then you made the deal with the devil unfortanelty........they will automatically fall of in seven years.....


If you have any direct questions feel free to pm me
 

Johnny Wadd

Banned
Apr 4, 2004
70
0
0
Canada
CurvySabrina said:
http://www.creditcanada.com/

They are a reputable not for profit and can give you all the info you need to expedite your situation.

I've dealt with Equifax in the past and they are complete assholes until you arm yourself with info - then they are willing to work with you.

Good Luck!
Sab.
Thank you so much for the information I really appreciate it!
Equifax is in for a rude awakening when it's all said and done! Thanks !
 

Johnny Wadd

Banned
Apr 4, 2004
70
0
0
Canada
Thank You !

CurvySabrina, freakshow, The Shake,
sensual lady, you have all been great and thanks for taking the time to answer my credit problem.

I'm basically screwed unless I can prove otherwise and I've taken all your advice and will work with it.

I know for a fact the two R9's I have should certainly not be there because of the agreement I made with these companies and now it's there word against mine. So really, I have nothing to go on unless I get a lawyer involved now.

Thanks again and if anyone else may have a solution or similiar circumstance please let me know.
 
Sep 8, 2003
3,768
0
0
Away from here.
www.reddit.com
Equifax and TransCanada credit work for creditors, not for consumers. Remember that, always.

Most people do not realize that debts can be negotiated to 40% of their outstanding value if you can pay that settled amount off with one payment. Additionally, you must make the removal of your debt on your record a condition of the payment, otherwise the credit companies have no incentive to remove it.

It's a very shady industry, and you must arm yourself with information and power.
 

Johnny Wadd

Banned
Apr 4, 2004
70
0
0
Canada
Mao Tse Tongue said:
Equifax and TransCanada credit work for creditors, not for consumers. Remember that, always.
Don't you mean Equifax and TransUnion, not TransCanada credit bureau's?
 
I've had dealings with Equifax over my Student Loans - they were absolutely nasty. An over zealous (shall we say) person thought it would be appropriate to call my boss and detail my credit problems to him.....needless to say my boss asked for a letter from them....they complied and I had a lawyer write a very nicely worded letter informing them that they had no legal right to release my private and confidential information to my employer not to mention freely talking about it.

Thank God I had a decent boss who saw that I was just a kid starting out and doing the best I could. The letter and legal threats managed to get my debt erased.....partially anyway.

You have to be absolutely ruthless with these people and like everyone has said arm yourself with information - there is an entire department in the ministry of consumer affairs (i believe) dedicated to collection agencies and thier complaints......

Sab.
 

Johnny Wadd

Banned
Apr 4, 2004
70
0
0
Canada
Mao Tse Tongue said:
Actually, they're both equally nasty, but yes, I erred: I meant TransUnion. :)
Actually, TransCanadaCredit, your friendly neighbourhood legal loan shark! ;-)
 

kbluejayk

Active member
Oct 26, 2003
1,552
0
36
Good luck Johnny Wadd! You have got good advice here!
Sounds like you had a verbal agreement with a collector, whose sole objective was to secure your payment, by fair means or foul.........I guess the moral of the story is to get ALL verbal agreements confirmed in writing, every time. then, if you need a lawyer down the road there is a paper trail he/she can follow to support your position.
 

outoftownguy

Member
Jun 22, 2003
171
0
16
Before you can get alot of advice you need to clarify something. If you paid a collector then chances are you paid a settlement. That would mean the credit card company sold your debt to a collection agency. The collection agency SETTLED for an amaount less than you owed therefore the R9 represents the fact you did not pay the whole amount owing. legally that does not have to be corrected. This is acse of the going up the ladder to complain thecollector that received a commission for your payment misinformed you and they may fix things.

If you paid the credit card company direct and paid THE FULL amount they should amend the credit bureau to a R64 rating = paid in full after being charged as a loss.

Otherwise tell your employer and let them know upfront why. if you are a good candidate, honest and forth coming == hired.
 

joefave

New member
May 1, 2004
9
0
0
What exactly does the employer see?

Hi I've seen "my" credit report where it lays out all the credit cards, credit limits, balances, etc. Which are all very high, but I haven't missed a payment.

I was just wondering if the employer sees the "same" report when they ask for it as a condition of employment?

To put it bluntly, my combined credit balances are practically three times my annual "gross" income. :(

I was under the impression that an employer would just basically see a more "conservative" version of my credit situation in which it would just say that I am not in arrears on any credit cards?
 

The Shake

Winner (with a capital W)
Feb 3, 2004
1,846
0
0
Maryland
www.drivenbyboredom.com
Re: What exactly does the employer see?

joefave said:
I was just wondering if the employer sees the "same" report when they ask for it as a condition of employment?
Only if they request your permission to do a credit check, and you give it.

To put it bluntly, my combined credit balances are practically three times my annual "gross" income. :(
Holy shit!

(Unless, of course, that includes a mortgage.)
 

Bobzilla

Buy-sexual
Oct 26, 2002
1,959
174
63
59
outoftownguy said:
If you paid a collector then chances are you paid a settlement.

There's no indication of this at all.
outoftownguy said:
That would mean the credit card company sold your debt to a collection agency.

This rarely happens in practice, although for some reason, a lot of people think it does.
outoftownguy said:
The collection agency SETTLED for an amaount less than you owed therefore the R9 represents the fact you did not pay the whole amount owing. legally that does not have to be corrected.

An item is assigned an R9 rating BECAUSE it has been listed with a collection agency. That's what the 9 signifies.

I have worked in this industry a long time, and can tell you that threatening legal action is going to get you nowhere. Unlike the litigious-happy USA, in Canada you have to prove that you're out money before you can sue someone & make it stick, unless we're talking about something like negligence or libel/slander, etc. The bottom line is: you didn't pay your credit cards, they got assigned to a collection agency. Whether Visa or whoever should have done so or not is not up to you, nor is it relevant. Because it was assigned to collections, the R9 rating is correct & will stay. I know it's not what you want to hear, but it's the truth. PM me if you want/need more info.

BTW, there is a way to get it removed, but trade secret, ya know??

Bobzilla
 

ham2004

Senior Retired User
Jan 16, 2004
976
0
0
retired from the game
Ok, want some constructive help here. Everyone is entitled to review there credit rating in this country. So review it. Equifax (AKA Canadian Bonded Collections Limited), must allow you to amend their report with your own comments. These stay on your report for as long as "bad history" does.

If it was student debt, explain why you fell behind, economy, no jobs etc. If Credit card debt, be creative, but honest. ( I once used the "stupidity" reason, and got a hell of a laugh from the mortgage company, but still got the loan.

Most importantly, dispute everything
 

Bobzilla

Buy-sexual
Oct 26, 2002
1,959
174
63
59
ham2004 said:
Ok, want some constructive help here. Everyone is entitled to review there credit rating in this country. So review it. Equifax (AKA Canadian Bonded Collections Limited), must allow you to amend their report with your own comments. These stay on your report for as long as "bad history" does.

If it was student debt, explain why you fell behind, economy, no jobs etc. If Credit card debt, be creative, but honest. ( I once used the "stupidity" reason, and got a hell of a laugh from the mortgage company, but still got the loan.

Most importantly, dispute everything
Firstly, Equifax is no longer involved in collections, just in credit reporting. I used to work for them.

Secondly, you can as you say attach your version of events to your credit file, but in most cases, it's like "pleading guilty with an explanation", and carries zero weight. To my mind, it's more of an attempt to offer an option to a consumer rather than to simply tell them there's nothing that can be done. End result: it gets the consumer out of their face...
 
Status
Not open for further replies.
Toronto Escorts