Christian Debt Recovery

Debt Service Ratio Canada

February 14th, 2008 |

Author: Gavin

Good Credit Score – How Important is it?

Most of us go about our business without giving much thought to our credit score. We apply for credit and give authorization for potential creditors to check your credit. Some of us are approved, some of us are not. Some of us make our minimum payments on time and feel good about our credit, unaware of the things that can influence a good credit score and our overall financial health only to be declined for credit. What is all this about anyway?

Having a thorough knowledge of your financial health will give you confidence to leverage your strengths in negotiating competitive rates, saving you money. When you have a strong financial profile, more doors will open for you. A good credit score is not only important to secure financing or to obtain a mortgage on a house; it can also influence bank account privileges and may even be needed to qualify for a job.

Now, there is a service that will help you better understand your financial situation that also gives you practical recommendations to steer you in the right direction. True Assess will guide you through the process of achieving your personal and financial goals getting you that good credit score you want and need.

You simply enter your information into a secure and confidential online application to receive a comprehensive, easy to understand Financial Report that assesses and rates the specific areas of your financial profile that are considered by lenders when determining your credit worthiness. The True Assess Financial Report rates these areas of your financial profile using the same lending criteria used by major financial institutions. Some examples of the areas that will be assessed and rated as part of your Financial Report are:

- Stability
- Employment type
- Income type
- Type of housing
- Debt load
- Debt service ratios (your monthly payments to housing and debt balanced against your income)
- Cash flow
- Assets/Net Worth
- Existing credit products and how they are managed

A True Assess Financial Report will also point out the current strengths and weaknesses of your financial profile as well as provide practical, realistic recommendations that will set you on a path to achieving your goals. Many of the recommendations in your financial report will also help you strengthen your credit score.

I recommend that anyone who is looking to improve their credit and financial profile check out this service. A True Assess Financial Report is only $19.99 is in Canada and the United States.

About the Author

Nathalie Boutet has been a family lawyer in Toronto for over 20 years. She has been a Collaborative Law lawyer for the past decade. She is also a Deputy Judge in the Small Claims Court, a mediator, a teacher of Collaborative Law in Canada and Europe, and a member of the Chief Justice of Ontario Advisory Committee on Professionalism. Her parents divorced when she was a teenager. She is a widowed mother of one. To find out how The NEXT Program can support you and your family if you are thinking of divorcing. Please visit www.thenextprogram.com or call 416-646-3377.