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Before
applying for your bad credit loan Canada only, you should
know a little bit about your credit score.
For example, with bad credit loans Canada only,
how long does the information stay on my file.
Believe it or not, when looking for a mortgage
in Canada, the last thing that prospective clients
think about is looking at their credit report. If
you are thinking about getting a mortgage or an equity
loan in the near future, get a copy of your report to see
what it says about you.
With a bad credit
Canadian loan, in
most cases, accounts that contain adverse information may
remain on your credit report for up to seven years from
the date of first delinquency on the account. Judgments
remain on your credit report for seven years from the date
filed.
Tax liens remain on the file for seven years from the date paid. If
they are not paid, they will remain on your report
indefinitely. Even
with the best
Canadian mortgage rate, a bankruptcy will remain on your file for seven
years from the date of discharge. A second bankruptcy will
remain on your credit file indefinitely.
When applying for a Canadian
loan,
if you feel there is an error on your credit report, you
can contact the credit bureau and file a dispute. An
investigation will then be launched to determine whether
the information being reported is accurate. An
investigation takes about 30 days.
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mortgage, click
here.
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