Jennifer has been a client of ours for ten years. When her marriage broke down and her credit was in the toilet, we were able to help her keep her home by having her father co-sign.

We were there cheering Jennifer on when she landed a good job in sales a nd we helped and guided hervas she re-established credit. In January, we gave Jennifer a call to see how she was doing. Her life was definitely on the upswing. She now had a newcar which replaced the old clunker she used to drive but she now had a lot of debt she felt she needed to amalgamate into her mortgage. It deserves mentioning that Jennifer had listened to our advice to go with a variable rate mortgage at .60 below prime, three years ago., so in fact she had paid a significant amount off her mortgage, so refinancing was now an option.

First thing we looked at was Jennifer’s credit. It was stellar except for a R5(which means 4 payments behind) Jennifer was extremely disheartened because she had worked so diligently at improving her credit. Upon further investigation we learned that her bank had pulled a ‘dirty trick’. They reported her chequing account overdraft of $500 on her credit bureau and through some administration mistake, her account was showing as delinquent. Normally banks don’t report overdraft accounts but we are seeing the odd one now. We encouraged Jennifer to call the credit reporting agency Equifax and her bank to get the mistake rectified. She made numerous calls and didn’t really get anywhere. As consumers, it is very difficult to get mistakes corrected at Equifax, and no wonder people throw their hands in the air and give up. We continued to monitor Jennifer’s credit over the next few months and lo and behold the R5 finally showed up as paid. It was still not correct but the best we could get. So we offered an explanation for the recent blip on the credit bureau when we applied for a new mortgage. when Jennifer found out that we were able to amalgamate her car loan and her Visa into a new mortgage at a rate of 2 percent at the same mortgage payment she had previously, she practically fainted. But she was even more surprised to learn that she didn’t need her father to co-sign anymore and she could now stand on her own two feet based on her income and good credit. Helping people like Jennifer is what we love to do the most. If you are in similar circumstances please give us a call, ande if we can’t help you right now, we’ll show you the path to success.

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