If you are looking for information as to why an account is showing on your credit file, or information regarding how you may have the account updated on your credit file, then you are at the right place!
Why are you on my credit file?
General Credit Services Inc (GCS) is legally required to report past due accounts that are assigned to us as “collection items” to the main credit reporting agencies in Canada.
The ONLY credit reporting companies that GCS reports to are “TransUnion Canada” and “Equifax Canada” – these are the companies that provide the majority of information to banks and other lenders to help them make credit granting decisions.
Both TransUnion and Equifax may also provide credit reporting to additional credit reporting agencies or report credit under different brand names.
General Credit TIP!… If you have found a mistake on one of your credit files, you should also check your other credit file as these are two different companies!
I want you to Update my Credit NOW!
When contacting us about an item that is showing up on your credit please make sure you have the reference or account number from the collection item handy so that we can easily locate the account. In most cases, the notation on your credit will also show who the money is owing to.
If you are looking to have an update on your credit file to show an account as Paid or Settled, any updates to credit reporting information may take up to six (6) weeks.
If you are requesting an urgent update because you are looking for new or increased credit, in some cases, we will be able to confirm to your lender that the account has been paid.
I want this removed from my Credit File!
To comply with regulatory requirements, we ONLY remove items placed on your credit file when there is a valid and reasonable dispute and only while the dispute is being validated, if our client has been unsuccessful in a legal action against you and has not been granted an order by the courts, in the event that someone has used your name and obtained the credit in your name fraudulently, or in the event that the note was placed on your credit file in error – to be clear, we do NOT remove items when they are paid or settled.
If an account has been placed on your credit file in error, please use the Urgent Update Form – this is a priority process and will be actioned within two hours during normal business hours. We will work with the credit reporting agency to get an urgent update performed to correct or remove the information immediately. When contacting us about an item that is showing up on your credit in error, please make sure you provide your full name, contact phone number, and also have the reference or account number from the collection item handy so that we can quickly locate the account.