I regularly get asked about Consumer Proposals and Bankruptcies. To answer the most popular questions I get and how you can make a lot more money I brought in Ross Taylor to help me out. He gives a great example on how he uses his knowledge of credit, to close more deals and work with extreemly grateful clients.

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Visual to help explain how long a Consumer Propsal and a Bankruptcy stay on your client's Equifax and TransUnion report. https://tinyurl.com/2pm8ntsn

Video to help any clients discover the most Common Errors that show up on the credit report after an insolvency. https://fb.watch/dX3VphJpg4/

Video to help explain the difference between Credit Accounts and Public records and Consumer Proposals and Bankruptcies to your clients. https://www.youtube.com/watch?v=67xiZ8SNznA&t=72s 

Does your client have good credit? You might only look at Equifax but the insuriers and some lenders also review the TransUnion report. In this video, Jamie Lee Ushko and I go through the dangers of only looking at the one report.

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Links to get your client's credit report:

FREE EQUIFAX REPORT:

PAID EQUIFAX

FREE EQUIFAX REPORT THROUGH BORROWELL:

FREE TRANSUNION REPORT:

PAID TRANSUNION REPORT:

FREE TRANSUNION REPORT THROUGH CREDIT KARMA:

A lot has chanced since Covid including how underwriters look at deferrals. Even though it might have been a couple years since your client has deferred or skipped any payments the underwriters are still asking questions about them. Find out how to spot them and how to make sure your deal still gets done.

How do you increase your clients credit score quickly? Is there anyway to get a 9 back to a 1 rating once it is paid off? Should you suggest your client get a credit card to increase the score before getting mortgage financing? Should a client pay off and close an account with an overdue amount? Understanding the ratings are the key to answer these questions which Jasmine Findlay I go through with you in this episode of

BARG! Resource Section:

Having a client pay off a loan might help their debt service ratios but it will also lower the score. Find out when is the best time to have your client pay off their loans.

RESOURCES YOU CAN SEND TO YOUR CLIENTS: To help explain to your clients why they need to talk to you first before paying off a loan - https://www.youtube.com/watch?v=nBA73yYY1EI&t=12s

When you ask a client if they have good credit, most likely they are lying to you. Not on purpose of course, but the score they have access to can be very different from the one that you see. Not only does this confuse them, it might be a bit confusing to you as well. Check out the video of my conversation with Jenn Fowler about the different scores Equifax and TransUnion provide and why it is important for your business. Below are some links to resources you can pass along to your clients. Stay tuned for more conversations about credit!

RESOURCES YOU CAN SEND TO YOUR CLIENTS:

To help explain there are multiple credit scores - https://www.youtube.com/watch?v=yKVKM4n34gg&t=8s

ARTICLE:

What I send to clients when they are worried about having their credit report pulled or a hard hit -https://tinyurl.com/ys232655