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All immigrants to Canada, regardless of where they come from, start off with a neutral credit record, neither good nor bad. In your case, however, a quick computer check will show all your US credit problems, and you will very likely be denied ANY credit here in Canada.
The only way to correct that is to pay off your US credit accounts and start to learn to pay CASH for things, after saving up for the item you wish to buy.
I know it is hard to believe, but that is the way many of us do it. No credit cards, no interest payments, no late fees. My motto is Pay Cash and Be Happy. And of course, if you pay CASH for an item, nobody can come and take it away from you. EVER.
AnswerI certainly agree where consumer debt is concerned. But, Jim, are you suggesting that US residents should NEVER get a University education or buy a home. . . two goals that are out of reach for most people without incurring debt in the thousands, or hundreds of thousands of US dollars?The US and Canada have separate credit reporting agencies. You will have neutral credit, but may find it difficult to establish credit without a history. The most honorable thing to do is make arrangements to pay off your US debts. Either way, examine your spending behavior and decide to change the habits that caused the bad credit history in the first place. Then, even if you stay in the US, your credit history will significantly improve in 7 years.
Also, be aware that if you have a bankruptcy, you will not be granted immigrant status in Canada.
AnswerI'm a bad one to ask about how I paid for my University degrees.I was a full time member of the Canadian Army, a military police investigator, so I had to arrange to get my education at my own expense, so YES I did pay in advance, for all of it, year by year. I was doing this long before there was such a thing as "distance learning" by computer. I did it the hard way, by correspondence courses, from where ever I my duty took me.
Took me 11 years, but I did achieve a BA and then a Masters in Canadian history.
I agree that most folks have to have debt, for a home, for instance, but credit cards are simply too easy to get, and too hard to get out from under, for many people.
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Will a bad credit history in Canada follow you when you move to the US?
Only if the consumer voluntarily reveals the information or finds it necessary to reveal the information to obtain credit in the U.S. It is true that Equifax and TransUnion have bureaus in other countries. However, consumer credit information either good or bad cannot be transferred from one country to another due to the differences in consumer laws, such as the U.S. FCBA, FCPA and so forth. Yes, particularly from Canada, as they and the US share many of the same credit agencies. The best you can do is pay down balances and wait patiently for old accounts to drop off your credit history.
How can you clear a bad credit history?
The first step to clearing a bad credit history is to dispute or clear up any mistakes made by companies in the past, as these will affect your credit score. You should also stop applying for any more credit, register on the electoral roll, cancel any unused cards and pay future bills on time.
Is it possible to get a bad credit history from being denied a credit card because you did not have a credit history?
It is possible that you will show a low credit score if you have no other loans, credit cards, etc. You have to have revolving accounts or other accounts to establish credit. If you are having trouble getting a credit card you can try and get a secured credit card, or have a co-signer help sign with a application for credit.
How can one repair bad credit history?
There is no easy way to repair a bad credit history, but with patience and willpower, it is possible to see one's credit score rise again. First, an individual should educate themselves about their rights according to the Federal government. Second, it is important when you have a bad credit rating to make certain the information on your credit report is accurate. one can seek credit counseling from a government approved agency, many of which offer no cost or low cost counseling services. These services can often help individuals in debt make proper decisions about consolidation or bankruptcy. Finally, it is imperative to avoid further damage to one's credit rating by avoiding new lines of credit that are outside a monthly spending budget.
Is black history a bad speech topic?
Black History is a good subject to create topics for a speech but it can't be a topic itself.
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
When a Canadian moves to the U.S. their credit history in Canada is irrelevant. They will have no credit in the U.S. though, which can be worse than having bad credit. hi
Will your bad hong kong credit history follow you to Canada?
No, when you apply for credit here, merchants/lenders only do a canadian bureau and can possibly do a USA bureau. So if you are a new immigrant to canada, make sure you apply for credit only if you need it and handle it well.
What if you have bad credit because of bills not credit card debts?
It is still bad credit history.
Will a bad credit history in Canada follow you when you move to the US?
Only if the consumer voluntarily reveals the information or finds it necessary to reveal the information to obtain credit in the U.S. It is true that Equifax and TransUnion have bureaus in other countries. However, consumer credit information either good or bad cannot be transferred from one country to another due to the differences in consumer laws, such as the U.S. FCBA, FCPA and so forth. Yes, particularly from Canada, as they and the US share many of the same credit agencies. The best you can do is pay down balances and wait patiently for old accounts to drop off your credit history.
Can I get an auto loan with poor credit history?
Many companies offer car loans to people with poor credit histories. In Canada for example, www.canadaautoloan.net offers car loans to car owners with bad credit or no credit.
Does bad credit score in the US effect the credit score in Canada?
Technically, no. The Canadian credit bureau does not share information with the US credit bureaus. However, a Canadian creditor can certainly check with a US credit bureau to check your credit history.
Is no credit worse than bad credit?
Not having a credit history is better than having a bad credit history. Bad credit is very bad... No credit is good. you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.
How do you get credit card with bad credit?
If you have a bad credit history, you can still avail of credit card applications. It depends on the company. Sometimes, you have to fix your credit card history before you can apply for a new one.
Does bad personal credit history affect business credit history?
In many cases, yes, it will hurt the business credit history due to you having bad personal credit history. Being a "silent" partner is the best option you have if you want to be involved in the business.
How do you get a bad credit loan in nova Scotia Canada?
Getting a bad credit loan in Nova Scotia is really as simple as finding a lender who specializes in these types of loans such as Bryden Financial services located in Dartmouth. They offer help for people who have bad or no credit history obtain mortgage or car loans.
Can a student get a loan with bad credit history?
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Where can you get a unsecured personal loan with bad credit?
Yes, you can get Bad Credit Loan. A bad credit history is like having contracted an infectious disease. At least this is what most lenders perceive. Any requests for personal loans by people with a bad credit history are generally declined.
