I frequently have discussions with people in regards to their worries about their credit rating.
Firstly, I want to be clear that I do not wish to convey a message to disregard your credit rating.
However, I am often presented with situations where the damage is already done to the credit rating, or that damage is inevitable as people will soon “hit the wall”. Yet many times people are apprehensive in taking the necessary steps to look at options like a Consumer Proposal, for fear of damaging their credit rating.
Tip: If you’d like to learn more about how a Consumer Proposal impacts your credit rating, read: Will A Consumer Proposal Affect My Credit Rating?)
The credit rating can be rebuilt over time with the help of our Debt Relief Plan. And many people who have already purchased a home and have a newer vehicle, may have little need for a strong credit rating.
It is a good idea to preserve or build a good credit rating, yet not at the expense of preventing your overall financial goals, or continuing on the stressful path of just making minimal payments – knowing you will never get out from debt.
Keep in mind, financial wealth or strength is not determined by your credit rating, as no one has ever been considered wealthy because of their high credit rating.
A Licensed Insolvency Trustee can inform you about the quickest way to get out of debt AND how to repair your credit rating. Contact us for a free, no-obligation consultation, to learn about all the options available to you.