My name is Ira Smith,
President of Ira Smith Trustee & Receiver Inc.
First, we hope that you and your entire family are remaining safe,
healthy, and secure during this coronavirus pandemic.
Ira Smith Trustee & Receiver Inc.
remains fully operational.
Both Brandon Smith and myself
are holding all meetings either by telephone or video.
So if you have any questions at all, either about this blog
or anything else at all, give us a phone call.
Shoot us a message.
We would love to hear from you.
Whenever we help people
settle their debts through a consumer proposal,
we always
tell them how they can improve their credit score.
So Brandon decided to put that advice
in a blog today titled Three Top Ways
To Succeed In Credit Repair Using A Credit Card For Rebuilding Credit.
So I hope you can watch until the end
of this video because I know you will get value from it.
There are three parts to this advice.
Now it may sound counterintuitive
that in order to repair your credit,
you need to use a credit card that got you into trouble in the first place,
but this is different.
There's three steps that Brandon goes through.
The first step is get a free credit report on yourself
from each of the two Canadian credit bureaus Equifax and TransUnion,
see if there are any errors in it.
If there are
reach out to the creditor and provide them proof of the error,
documentation, so that they can fix it.
If they don't
provide that proof to the credit bureaus so they can fix it themselves.
Step two,
which is something Brandon has written on extensively is you need a proper
family budget
that takes your after tax income
and your necessary household expenses
so that you can allocate the expenses against the income and make sure you are
not spending too much that you're not overspending.
The third method.
Once you've done, the first two is apply and get a secured credit card.
By its very nature,
you are giving a cash deposit to the credit card issuer to act as collateral
and the credit limit you get is equal to your credit
security deposit.
Every time you make a purchase,
every time you pay off the credit card on time in full
that gets reported to the credit
bureaus,
and every time you properly use credit,
it helps to improve your credit score.
Brandon goes through the differences
between a secured credit card and a prepaid credit card
and the difference between a secured credit card and an unsecured credit card.
So I hope you can read the entire blog below
because I know you will find it informative.
Once again,
Ira Smith Trustee & Receiver Inc. is fully operational.
We are holding all meetings by telephone or video chat.
If you have any questions at all,
either about this Brandon Blog or anything else at all,
pick up the phone and give us a call, shoot us a message.
We would love to hear from you.