Credit Repair
Questions & Answers

Question: We just got turned down for our mortgage. How long does this process take?

Answer: We work fast. All of our staff is "full time" and your file will be worked on immediately after your membership payment is received. The length of time of it to be adjusted, removed or corrected depends on the specific agency. We always request immediate compliance in the case of errors, by law the creditors, collectors and reporting agencies must respond in a reasonable amount of time.

Question: Is your service guaranteed?

Answer: We guarantee that we will use our expert services, staff knowledge as well as our 20 years experience with credit issues to work in your favour. We have an amazing track record and have dealt with almost every type of situation successfully. That said it is impossible to guarantee that third party agencies will comply with your requests for repair or removal, however if the claim is valid most creditors and agencies will comply with our disputes. In the event of compliance violations almost always we will be successful.

Question: Can you really have Bankruptcy and Foreclosures removed from our reports?

Answer: In many cases information may have been reported in error and would call for its removal. Many times even bankruptcies get reported with misleading data and compliance violations.

Question: Why is fixing credit so important?

Answer: We know your credit score is so important to you, it would make sense that the credit reports used to calculate your credit score are managed with the utmost care. Unfortunately you and millions of Canadians with errors on their credit reports end up overpaying in interest or simply get declined for everyday loans and mortgages. In addition, most credit reports contain misleading or out of date information that gives creditors the wrong idea of who you are as a consumer.

Question: Can we do these corrections ourselves?

Answer: Yes you can! However, the main reason we recommend our service is because most people fail to properly deal with creditors, credit agencies, and claimants. Attempting to adjust, revise or repair data can sometimes result in making your credit worse. Let our professionals work for you.

Question: Is this process legal?

Answer: Canada Credit Fix is a reputable credit repair company that can legally request and dispute the removal of negative items on your credit report, and may thereby improve your credit score. Information contained in your credit file must be reported according to a law and must be accurate. If the information is not 100% accurate or verifiable then it must be deleted. This means your credit scores may go up as a result.

Question: What items can you remove?

Answer: Through our services, we can normally help you dispute and remove the following inaccurate, unverifiable and obsolete items: bankruptcies, foreclosures, collections, judicial claims, repossessions, medical bills, credit card debt, inquiries, late payments, old addresses, judgments, tax liens, and student loans.

Debt Settlement
Questions & Answers

Question: What is the difference between credit and debt?

Answer: Good debt is when you borrow money to purchase an asset (home, RRSP, non-registered investments, or business) and that asset increases in value to allow you to repay the debt and be left with something. Bad debt is purchasing liabilities with the money you have borrowed.

Question: How will I know when I need to begin this process?

Answer:

1. You will likely experience a high degree of stress related to your financial problems.
2. You may need to be restructured when one or more of the following have occurred:
1. You have used all your available credit or have started borrowing from secondary lenders and are paying over 20% in interest rates.
2. You are in a vicious cycle with payday loans and can't get out.
3. You use credit to make your debt payments.
4. You are spending more than make and/or have little, if any, savings.
5. You have no budget and pay for most of your purchases with credit cards.
6. You are not honest about your spending habits with your partner.
7. You don't pay your bills when due, and have your creditors or their collection agents sending nasty letters or making annoying or abusive phone calls.
8. You realize your credit rating is bad and no longer have the ability to service your debts.

Question: Who are your typical clients?

Answer: Our customers are typical every day "People", individuals, families, or small businesses who are struggling financially. Bad things happen to good people and there is help! We will try to work with everyone, regardless of the amount of debt owed. Our clients not only require debt reduction or elimination services, but also the products and services necessary to assist in their rehabilitation such as credit repair, credit rebuilding and also credit protection. It is appropriate for people with unsecured debt from $10,000 up to $250,000. Our program is affordable and custom tailored to each of our client?s ability and resources to settle.

Question: What are the fees for your services to complete the debt settlement program?

Answer: We charge you ZERO and you will never get a bill from us for credit repair or debt settlement! Here is why we charge you nothing! We want to help you get out of debt and stay out of debt so that you can get on with your plans. Many times our happy customers will use our affiliate mortgage brokers, financiers, and realtors creating the other end of our networking system, so essentially we would rather create a happy consumer that can move forward with their plans. We win together; we win and so do you!
Here is how other companies typically charge! The fees for each case vary based upon the complexity of your financial situation and the effort required assisting you. It is important to note that many companies can charge as much as 15 and charge set up fees and commissions.

Question: What types of debt do you work with?

Answer: We work primarily with unsecured debts, but in many cases, work with secured debts as well. Some of the more common are listed:

• Credit cards
• Personal loans
• Business loans
• Suppliers
• Lines of credit and Overdrafts
• Student loans
• Payday loans
• Utilities
• Car loans or leases
• Mortgages
• Income tax
• GST
• Etc.

Question: What is debt settlement and what's the difference?

Answer: Debt settlement is also known as debt negotiation, debt reduction or debt arbitration. Debt settlement is an aggressive approach to getting you out of debt and back on your feet financially Once again you will be able to answer the phone, the door and get the mail without stress and anxiety.

Question: I am so confused? What is the difference between "Debt Settlement", Credit Counselling, Orderly payment of debt, Consumer Proposals and Bankruptcy?

Answer: Firstly, let's talk about what we do! At Canada Credit Fix we primarily help people "fix" their credit. Our experts will not only "negotiate" your debts into lower payments, settlements and payment agreements but additionally will also use that bargaining leverage to assist with the removals and revisions of collection on your credit report. Our goal is to leave you debt free and cleaner credit. Simply put.... We work for you and only you!

Debt counselling, OPD, Consumer proposals and Bankruptcy trustees in most cases work for the creditors, the courts, third party agencies and individuals. Almost always your credit is left shattered for as many as 6 to 14 years, and in many cases it may be deemed illegal to get new credit for a period of time. Let's now talk about the embarrassment and humiliation of constantly living with the label "Bankrupt". You are now considered "High Risk" to most lenders. You are now the guy at work that people talk about!

Question: How long does this take?

Answer: The duration of the settlement process can simply range from a matter of days to months depending on the severity of the customers debt and the work that needs to be done. Once the negotiating process has been completed the client will be able to pay out the debts in a lump sum or a negotiated payment plan over an agreed time frame.

Question: What types of debt can you work with?

Answer: Please note each debt must have an outstanding balance of at least $750. Unsecured Debt Includes:

• Bank Credit Cards
• Department Store Credit Cards
• Retail Store Credit Cards
• Unsecured Personal Loans or Lines of Credit
• Auto Loans or Leases where the vehicle has been repossessed
• Unsecured Business Debts and more

The Following Debts Are NOT eligible for Debt Help:

• Student Loans and Taxes
• A Mortgage
• Payday Loans
• Car Payments
• Secured Loans or Lines of Credit

Question: Will you contact all of my creditors on my behalf?

Answer: Yes. A letter will be sent to each of your creditors advising them that you have retained CCF to represent you. CCF will demand that they cease all communication with you and we will demand that all future correspondence be directed to our office on your behalf.

Question: How will debt settlement affect my credit?

Answer: Debt settlement is a bankruptcy prevention program and may adversely affect your credit if your debts are current and you have no history of late payments. The debt settlement program will, in the end, improve your debt to income ratio and may therefore improve that portion of your credit score. Since you will have resolved your outstanding debt through the Credit Resolve program, your future creditors will see that you settled your debts instead of filing bankruptcy.

Question:Do I have to be delinquent with my debts to be eligible for your program?

Answer: No. CCF debt settlement program works with debtors in all stages of collection.

Question: How do I get approved for your program?

Answer: CCF is not for everyone and nor can we help everyone. If you are in debt, employed and serious about resolving your debt, take the first step, Contact us and we will advise you of your acceptance into the Credit Resolve program or other options available to you.

Question: Is debt settlement the same as debt consolidation?

Answer: No. A debt consolidator makes one loan to you to pay off all of your debts. They charge you interest on this loan and in some cases you are still required to pay interest to your creditors. As a result, your principal debt balance remains the same and you remain years away from becoming debt free. With the Credit Resolve debt settlement program, our highly skilled negotiators will negotiate on your behalf utilizing our experience and the debt collection laws to significantly reduce your debt. In most cases you will only pay a fraction of what you owe. Typically, with the Credit Resolve Debt Settlement Program we resolve our client’s debts in 9 to 24 months, and in many cases way sooner.

Question: Does the debt settlement program work for all of my creditors?

Answer: No firm can guarantee that every creditor will accept an offer to satisfy your outstanding debt. CCF only accepts cases that we can resolve for a fraction of the debt. After your first conversation with CCF we will know your financial situation and will be able to advise you on what expect from the Credit Resolve program.

Question:Are your services guaranteed?

Answer: We cannot offer a 100% guarantee that our services will work for you. If we could we would. Before we accept your case we will perform a thorough analysis of your cash flow and debts. When we can help you we will, and if we don’t think we can help you, we won’t accept you into the CCF program. Remember, we win together as our success is very important to us and we tend to prefer files that we know we can help out on. Because we are not collecting fees or commissions based on success we tend to only want clients that we are sure we can help.

Question: Will all of my debt be eliminated when I finish the debt settlement program?

Answer: When you follow all of our procedures you can expect to have zero balances on all unsecured accounts that you’ve contracted us to resolve. You will still be responsible for your secured debts i.e. mortgages, auto loans, etc. and unsecured debts that you did not retain us to settle.

Question: What can I expect as a result of your debt settlement program?

Answer: You can expect a substantial reduction in what you owe to your creditors. While each case is different and results vary we typically settle our clients debts for 25% to 50% of the balances owed.

Question: Do I have to include all of my debts or can I choose only the ones I would like you to resolve?

Answer: With the CCF debt settlement program you can select which accounts you would like us to settle for you. This will be discussed during the first conversation with CCF.

Question: Will I continue to get calls and collection letters from my creditors?

Answer: Once you are accepted into the Credit Resolve program we will provide your creditors with the appropriate correspondence that will keep them from calling you; however, there is no law that prevents creditors from sending written correspondence to you. Do not be afraid to read these letters. In fact, it is important that you read each letter carefully as you are certain to get settlement offers from your creditors as a result of your admittance to our program. Settlement letters and any letter of concern should be forwarded to CCF.

Question:

Answer: Yes. However as a practical matter, you need not concern yourself with these charges. In most cases CCF’S skilled negotiators will get your creditors to remove these charges while significantly reducing your principle balance as well.

Question: Will my accounts be closed?

Answer: Your credit grantor will close any account on our plan (usually). We recommend that when joining, you close your accounts on your own. We believe that it will look better on your credit report if you close them.

Identity Theft Insurance
Questions & Answers

Fact:

The average identity theft victim spends 600 hours clearing their identity. This means getting reports and affidavits proving the theft, figuring out what's been compromised, and working to get their identity back. That's a lot of time to spend recovering from a crime of which you were a victim.

The bad news is that you cannot protect yourself 100% from identity theft. The good news is you can greatly reduce your risk by acting quickly when your personal information has been compromised.

Question: How long does it take to get our money if we are a victim of credit crimes?

Answer: If you have become a victim of a credit fraud you may be virtually paid out instantly. Please not however each file is different and the insurance is underwritten by one of Canada top agencies. Call us for more details.

Question: How much does our policy cover?

Answer: Our value package of $499 not only includes FREE credit repair and FREE debt settlement but also includes this annual premium and covers you up to $25,000 in losses. Identity Theft Insurance you can count on.

Question: Who benefits from your program?

Answer: Any subscriber that has credit card losses as a result of identity theft or fraud. every year hundreds of thousands of people in north America get ripped off by predators and creeps by stealing your identity!

Question: How can you guarantee our premium at such a low cost?

Answer: The truth is we have a very low payout amount. We are similar to an Alarm Sign on your front lawn. Most criminals noticing you are employing our service will avoid an attack on you. It is far easier and safer for a criminal to exploit someone who is not protected or being monitored. Our service does not guarantee that you will not be a victim but it certainly will reduce your risk! And in the event that you are victimised you are covered! We value bundle our programs making it easy and affordable to keep yourself covered.

Question: Why do we need Identity theft insurance?

Answer: The same reason you need a virus protector on your computer. There are thousands of criminals out there looking to get your identity and access to your credit. If you run your computer for 6 months without protection almost guaranteed you will either get ripped off or get a virus. The same thing goes with your Identification and credit in real life! Not protecting yourself is asking for problems. At this low cost you would be crazy not to keep yourself covered.

Foreclosure Mitigation
Questions & Answers

Question: What Is Foreclosure Mitigation?

Answer: Foreclosure is a voluntary or involuntary repossession of a property from a homeowner. During foreclosure, the property is taken away from a homeowner and placed back into the ownership of the bank that originated the loan for the home. The most common reason for foreclosure is missed or late mortgage payments. However, due to the expense and loss that a bank suffers when foreclosing on a property, many institutions are offering foreclosure alternatives known as loss mitigation.

Question: Loss Mitigation Defined

Answer: Loss mitigation is creating a program for consumers to assist them during times of financial hardship to bring their mortgage payment current over time and prevent foreclosure proceedings. Most lenders realize that each situation for consumers is different, so there is a plethora of options available for consumers trying to avoid foreclosure.

Question: Keeping the Home

Answer: Most loss mitigation is as a result of consumers that have suffered a short term financial hardship. Typically this is as a result of a job loss, divorce or medical problems. In these scenarios, lenders will offer programs to consumers that will allow them either to move the missed payments into their equity (adding it on to the end of the loan) or adding a small amount to a normal monthly mortgage payment. Both of these options allows for the homeowner to remain in their home and avoid foreclosure proceedings.

Question: Not Keeping the Home

Answer: Unfortunately, not all losses suffered by consumers are short term. Some individuals are forced into a situation where it is simply not possible to keep up with their mortgage at its current payment now or in the future. For these scenarios, lenders still have two options of loss mitigation to help the consumer get out of the loan, without having the sting of a foreclosure to follow them for years to come. These options are as follows: selling the home short of the amount due on the loan (settling with the bank for less) or a deed in lieu of foreclosure (signing the home back over to the bank).

Question: Qualifying for Loss Mitigation

Answer: Lenders offering loss mitigation services have dedicated loss mitigation representatives working for them. Homeowners that want to prevent foreclosure have to qualify for the loss mitigation services by providing the lender proof of their hardship. Qualifying for services to either keep or stay in a home can take as long as 60 days. Consumers worried about missing or being late on a mortgage payment are best served by contacting the lender before the first missed payment, and begin working with the loss mitigation department early on, before they are moved into the foreclosure department.

Question: Expert Insight

Answer: Having a foreclosure on a credit report has long-term, devastating effects to consumers later in life. Since a foreclosure will remain on a credit report for seven years, and reduce a credit score by more than 200 points, it is important to work out loss mitigation services early on and not wait. Loss mitigation has a much more favourable outlook for long-term financial health.