Financial Planning Q 'n A

Financial institutions primarily use two credit bureaus in Canada, Transunion and Equifax when researching the creditworthiness of individuals. Both of these organizations contain your credit history for a number of years. Identity theft is a growing concern across Canada as well. One easy way to monitor your credit and your identity is to regularly review your credit reports. Sometimes simple errors occur and your credit report which can easily be corrected before damage is done or in the worst case, identity theft can be caught before your complete credit worthiness is subject to months and sometimes years of investigation before it is cleared. Credit reports are free of charge and can now be accessed over the internet.