Debt Relief in Edmonton

When you have debts that you can’t repay, life can seem confusing, stressful and overwhelming. A.C. Waring & Associates Inc. provides solutions that may help you regain control over your finances and live your life debt-free. Have a look at the following frequently asked questions to learn more.

How can you help me deal with my debt?

A.C. Waring & Associates Inc. provides a full range of debt solutions to handle wage garnishments, repossessions, collection notices, foreclosure issues and lawsuits, depending on your situation. We’ll help you understand what your options are as you work to rebuild your credit.

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What is a credit score?

Your credit score is a measurement of the potential risk that you represent to lenders. A high score means that you are low risk. A low score means that you are high risk. You ‘earn’ your score based on whether or not you pay your debts on time.

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What do the numbers in my credit score mean?

There are a few different ranges that your credit score can fall into:

Poor: 300-575
Fair: 576-629
Good: 630-679
Excellent: 680-750
Perfect: 750-900


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What’s the difference between a credit score and a credit rating?

Your credit score is a numerical value representing the potential risk of lending to you, while your credit rating is a lender’s assessment of your history with them. Your credit rating is assigned both a letter (indicating the type of credit used) and a number (indicating how promptly you paid off the debt). The letters used are as follows:

I (Instalment)
O (Open line of credit)
R (Revolving credit)

The numbers next to the letters range from 1-9 with 1 indicating that you always pay on time and 9 indicating a bad debt or an account that has gone to collection.

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What’s in my credit report?

Your credit report contains all of your personal information (date of birth, social insurance number, addresses, employment details, etc.) and other facts pertaining to your credit history. This includes transactions from credit card companies, cell-phone companies, banks and any other lenders with whom you’ve had an account.

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