#credit bureau of canada
Credit Reports Manitoba
The Government of Manitoba has established a consumer protection office that handles and regulates the credit reporting agency in Canada. These agencies or sometimes known as credit bureaus must follow the rules outline by the Manitoba government to protect consumers.
How does credit reporting work in Manitoba?
Credit Reports in Canada are put together by approved credit bureaus of Canada and by law they all follow the rules set out for them in Manitoba. As a consumer, your are protected through the Personal Investigations Act .
Credit reports can contain any information about your financial transactions, including the number of credit cards you own, the balances, your recent and past payments, loan information, and personal information such as your address, birth date, Social Insurance Number and more.
What many Canadians don’t realize is that information is captured from you daily every time you spend or obtain a loan, a record will be kept and sent to the credit bureau. This is your personal financial finger-print that banks, mortgage brokers and even your landlord check when determining whether to do business with you. Keep yourself educated and how your credit score can affect you .
Correcting and resolving crediting report issues in Manitoba
Credit bureaus in Manitoba have to ensure that information is current and accurate. If you suspect an error in your credit report, you have the right under the Act to request the information be verified and updated. Following your complaint, the credit agency will need to correct or update information or remove it completely.
Canadians need to be informed that even if you pay your credit cards on time, a small error in your credit report can affect your credit score. Reviewing credit report in Canada is often neglected. Negative information on credit reports can stay on your file for 7 years and sometimes 14 years depending on the situation. This in turn can have a profound impact on your financial worthiness and ability to get a loan. Check your reports at least once a year and flag any information that is not accurate. Don’t get stuck with bad credit !
If you encounter a problem with your credit reports, try first to contact the credit reporting agency to get it resolved.
- Request for a Free Credit Report and review your credit history
- Contact the credit bureau to raise a complaint with the bureau to discuss the discrepancies
- If you cannot resolve your issues with the credit bureau, you can contact the Consumer Protection Office in Manitoba
Consumer Protection Office
Healthy Living, Seniors and Consumer Affairs
Consumer Protection Office