Investigate Your Credit Report
Your Credit Report is Crucial
The first step in fixing your credit score is investigating your credit report. Your credit score is an indicator of your financial health and is based on your history of money borrowing. It will affect whether lenders will lend you money, along with how much money you are lent and what interest rate you will be charged.
Since your credit report is crucial to your ability to borrow money when you need it, it is important for you to be aware of what it actually says. At Dana MacRae Licensed Insolvency Trustee, we recommend obtaining a copy of your personal credit information. Everyone is entitled to a copy of their credit report and Canadians can use one of two companies to get it: Equifax and Trans Union.
How to Get Your Credit Report
There are two ways you can obtain your credit report:
Simply visit the websites of either Equifax or Trans Union and follow the easy steps to purchase your report.
To receive a free physical copy of your credit report, you will need to mail or fax a request to Equifax or Trans Union. You will need to include photocopies of two pieces of government-issued identification (like a driver’s licence, health card, birth certificate or passport) that shows your current home address. If your address has recently changed and hasn’t been updated on your government-issued identification yet, you will need to include a piece of mail, like a bill or credit card statement. This document will need to visibly show the date of the statement, who the sender is, as well as your name, address and account number. Please note that you may blackout any transaction detail on your bill or statement as long as the other required information is clearly visible.
We recommend that you avoid using your social insurance number when requesting your credit report. This will help protect your privacy and reduce the potential for identity theft. You should also keep in mind that the information you provide is available to the credit reporting agency’s customers.
Please note that requesting your credit report is different than requesting your credit score at Equifax Credit Score which is different than the FICO Score. Requesting your credit report involves a charge to obtain it.
Contact our office for more detailed information about this process and your situation.
Disputing Your Credit Report
It can be hard to have your credit information changed and if you are unable to do so, we recommend contacting your provincial consumer department. If you live in Ontario, you will need to contact Ontario Government Services toll-free at 1-800-889-9768 or by email at [email protected]
Questions About Obtaining Your Credit Report And
How To Interpret It