Tag: Credit Profile

Risks And Benefits Of Applying For Unsecured Personal Loans Online

An unsecured personal loan may be a right choice if you do not have any asset or collateral to secure your loan and it also works in case you have been suffering from a bad credit situation. Unsecured personal loans may also mean asking for a high risk unsecured personal loans or bad credit personal loans Canada. However, in the light of today’s consumer credit issues, there are so many lenders that also have developed high risk unsecured personal loan plans that protect their investment while servicing these kinds of consumers in the due course. Applying for unsecured personal loans online has become so easy and fast today that’s the reason it has increased numbers of online shoppers who want to benefit with these available fast and convenient loan services online. Following are some of the important points that you should consider before applying for a loan, there are some risks you should know prior to getting benefits will help you to successfully complete the loan process till paying it back.

Easy online access

There is no need to go to a lender physically to collect an application form to fill and apply because you can instantly get the application form to fill and submit online at once through your computer or even your cell phones these days. Beside you can access your application form 24 hour a day and 7 days a week. One thing you should always take care of and it’s the security issue, Internet is full of bad surprises too, that’s why you should always take care of your security issues, you should carefully confirm your loan application should provide a secure platform.

Simple application process

Your credit profile is what that can make it complex your loan request and if you have bad credit or even no credit history, traditional banks will most probably deny your application but when dealing with online private lenders offering unsecured personal loans like payday loans and other related online personal loans, an adverse or negative credit history does not affect your application process. That’s why asking for a payday loan make your application process simple as your regular income or salary is enough to satisfy your lender to keep it simple and going.

Fast loan approval

Its really a very hard to wait the loan approval process when an urgent need for a money is required. However, an online approval process is almost instantaneous. It will just take few minutes to fill it up application and submit then you will be notified in next few minutes about your application has been reviewed and in most cases accepted. On the other hand fast loan approval also means fast liability, so it should be your personal liability before accepting the loan to confirm yourself about paying it back accordingly before the due date.

Applying for online unsecured personal loans has a significant number of benefits over the traditional available methods; there are also some risks involve. Here are some key points that it holds as benefits and risks.

Risks of applying for unsecured personal loans

  • Unsecured personal loan often carries a high interest rate in relation to a secured personal loan.
  • In case you cant payback your loan payments, lender may directly ask the court for the collection of loan payments generally through your salary or income where an unsecured debt is secured against the collateral like equity in your home as a homeowner.

Benefits of applying for unsecured personal loans

  • You can spend your loan amount on anything you want.
  • Your quick loan repayment will increase your monthly payments, but decrease your interest charges.
  • As these types of unsecured personal loans don’t require any property to secure, it works for the people who are not homeowners and also who don’t want a secured personal loan.

Remember, unsecured personal loans are good to fund most of your small purchases such as paying bills, education expenses, home renovations, vacations or unexpected expenses. If you are suffering from a bad credit, an unsecured personal loan can be a great option for you to consolidate debts and to achieve a positive cash flow. Moreover, when applying for unsecured personal loans online, you will get variety of lenders with ease that’s why you will also get variety of loan options, rates and terms; select the right lender of your choice and when your application process begins you will generally find out its quick and simple, because you don’t require any assets to secure, and your cash loan is instantly transferred to your checking or savings account. If its not a payday loan Canada what you want to get then you can also go with the other option available as payday loan alternatives and else. As benefits of taking such simple and fast cash is huge but always consider precautions to safeguard your personal finances. Risks and benefits of applying for an unsecured personal loan online is written with an intention to reduce the hyped up behavior associated with the subject. Always check and care about: How much can you afford to borrow?


How To Get A Bad Credit Car Loan Canada With No Down Payment Fast

Getting a bad credit car loan Canada is not a problem anymore, you not even get your auto loan approval fast but at best rates without paying any down payments, as far as you shows your ability to pay off your debt for the required monthly payments through out the loan terms. There are various lenders who are offering you an affordable online auto finance for either new or used car, considering all credit types, so it does not matter if you have bad credit, slow credit, no credit or bankruptcy. These are called sub-prime lenders that you may contact them to apply either an exclusive one company offering such loan or you can go with the a network of subprime lenders, although you have better chances of getting best and low car loan rates Canada if you go with those sub prime lenders. Above all, bad credit car loans can be a smart solution for people with poor credit profile to get their car finance without the stress of the credit issues, moreover, getting a bad credit can also improve your credit score.

Applying for an online car financing has become the most effective way to get a fast and easy car loan in Canada. People prefer because of its nature of fast approval, no obligation quote, less personal effort and a great time saver. As it provides you to compare variety of offers available in the market while selecting the best one out of it. Your satisfaction is guaranteed because you are provided to take benefit of different options for taking an online car loan approved in minutes without paying any application fees or down payments on your new or used car loan.

As you know world has been changed into an instant solutions for all kinds of instant problems, it may be a simple short message, specific inquiry or a news that turns into a solid instant transaction, simple application to get an instant car loan approvals are no more an exception. Car financing Canada is an indirect form of short term secured loans its given while keeping your car as collateral. Moreover, due to hike in the online auto market competitiveness you are likely to get a quick approval for your automobile purchase any time with in 24 hours with your loan amount at an affordable rate.

Your credit profile doesn’t stop you, either you have a bad credit or even if you are a first time car buyer, you can obtain a car loan Canada through online car loan lenders. Online lenders work with various financing companies to offer you instant car loans for all kind of credit types and situations you may have. These car loans Canada lenders networks also consist of sub prime lenders who offers comparatively lower rates as compared to the general market rates to people with less than perfect credit. Moreover, these lenders also offer loan refinancing to facilitate those people who are already in the trap of paying higher interest rate due to their past bad credit on their existing car loans at a lower interest rate without any unnecessary documentation and fees within shortest possible time.

To get an instant car loan Canada the only one thing you require and that’s an Internet access. Online car loan lenders have made several loan portals and websites, to offer their services with fast and easy to fill applications that you can submit with just a one click. Your application may take few minutes to get being processed on a secure server without any possibility of your personal profile leakage and a threat like identity theft or else. After submitting your application, you may then contacted by a person to help you if required for the further proceedings. Then the processed information is transferred to the lender’s network that is willing to offer you car loan in Canada. It’s a very quick process and when all it works out, lenders are then allowed to compete against each other to offer the best rates and amortization out of the various quotes provided by lenders. This way online car loans have been proved to be a very helpful online tool in providing low interest rates as compared to current market rates which ultimately helps you in saving of thousands of dollars in interest and monthly payments towards your liabilities.

Don’t hesitate to apply your good or bad credit car loan Canada for your new or used car financing of your choice because you will be dealing with a company or a team of car loan specialist offering a wide range of auto financing that suits your needs and budget, that will help you to get loan based upon your credit rating and financial earnings.


How To Get Free Credit Report Canada With My Credit Score

Why do I need to check my free credit report Canada with my credit score?

Learning the basics of the credit report process helps you in maintaining your good financial health because credit bureau collects and maintains how you are doing with your financial responsibility, and to provide it for the people and the organizations who need to find out, have direct concern and interest in your financial history like your employer, business partner or a lender, where your credit score shows your credit risk or advantage. Its a number that has been calculated through a mathematical formula  that measure through assorted variables in your credit report such as your payment history, public records, and debt to income ratio. Here in Canada, according to Equifax’s ScorePower Report, FICO scores range between 300 (bad credit rating) and 900 (excellent credit rating), where lowest number shows you have been suffering from a critical and a bad credit situation likely to default and high credit score brings more and more advantages, like if you are applying for a loan your interest rates depends on it, rates will be higher if your credit score is low and in case of high credit ratting you will get best possible lower rates. The one big investment is your mortgage and most of the people know how good score has brought thousands of dollars in savings to their mortgage repayments. Your  Credit score brings an instant summary that holds just three numerical digits to know your creditability.

Getting a free credit report in Canada holds more advantages for Canadian residents in relation to the American residents but lot of people here in Canada even don’t bother to check their credit profile, this may also be possible that they don’t know if they are entitled to a free credit report or not. Although you will be offered a free credit report Canada but it doesn’t mean that it holds your credit score rating attached. Possibilities are, you may or may not get your credit score with your free credit report, “How To Get Free Credit Report Canada With My Credit Score”, lets clear this phrase.

There are lot of options you may order your credit report, like by phone, fax, e-mail, general mail or online form but getting your credit report at your physical address through your mail request and instant delivery through internet media are the safest and easiest methods.

By mail its free! The credit-reporting agencies will provide you, by mail, with a free copy of your report on receiving your request in writing. Getting a free credit report this way will not provide you with your credit score and it also take some days to reach you.

By Internet some fees apply! You can also order your credit report through TransUnion and Equifax Canada from these reporting agencies’ websites online. This method is quite easy, safe and fast since you will receive your credit report online almost instantly, may take just few minutes after you made your request and other good thing you will awarded with your credit score too. However, these credit-reporting agencies charge a small fee for providing you with an online copy of your credit report and score.

How to get free credit report online that contains your free credit score?

The only way you can obtain your credit score through online applications supplied by these two credit reporting agencies’ on their websites. The fee charged for your credit score might be higher than the cost of receiving your credit report online. However, the cost of your credit score will always include an online copy of your credit report. Moreover, your paid credit report subscription also includes several other features these companies may have but common one is offering you your credit identity protection. The intention of writing these few sentences up are just to make it clear for you that free credit report with free credit score can only be obtainable through these credit reporting companies online, TransUnion and Equifax Canada and it does hold a cost. Now question stands here then how this advertising media is using the phrases free credit report Canada like “free credit score Canada” “free credit report Canada online”, “free credit report Canada Equifax”, “free credit report Canada TransUnion”, “Equifax free credit report Canada” and more like these.

You know how this advertising environment have been so tighten enough today when we have plenty of platforms to select products and services we require and this kind of market behavior and customer’s trend in finding opportunities the main suppliers, producers and marketers are just trying to reach their market and consumers beside trying to balance their own business competitiveness, such kind of aggressive statements that looks golden opportunities, make them prominent to be readily click-able are not false but it require some limitations attached. That’s why (Federal Trade Commission) FTC new rules implemented early this year in America to restrict such free credit report offering through these credit reporting agencies to safeguard consumers interest from such free credit report scam happening by printing these sentences as bellow:

THIS NOTICE IS REQUIRED BY LAW. Read more at FTC.GOV.
You have the right to a free credit report from AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law.

Its compulsory by law to print this above statement on the website’s web pages that contains such free credit report offering and those companies could face fines for not expressing full disclosure about free reports. Although its an American rule for the American websites but we should adopt it on ethical grounds till its not come up as a legislation. How this is true we can have our credit report in Canada free online that holds our free credit score?

You will find several websites offering you a 7 days, 15 days, 30 days or else free trial period for their such services, which offers you to view your free credit report in Canada online for the said period and after expiring you must sign up to carry on using the same service as paid one and some also offers the same free trial service if not canceled before the expiry of the said period you automatically becomes there paid member to be liable for the paid subscription. That’s why always carefully read first about the terms and conditions for the said free Canadian credit report offering, you are going to sign for. Some people will use the same service to view their free credit report in Canada and then just cancel their subscription or a membership before the expiry of the said period.

This is how to get your free credit report Canada that also holds your free credit score, its a good way but you have to remember to cancel your membership with the said company before the free trial period will be up, otherwise they will be start charging you for a service that you no longer been using.

The Canadian credit reports and scores offering system in Canada is very similar to that in the United States, like we both have two common credit reporting agencies working among us, which are Equifax and TransUnion (Experian, the third one has closed its operations in Canada on April, 2009). But there is, however, one main key difference that brings more advantage to us in Canada, is that, unlike the United States, where a consumer is allowed only a single copy of annual free credit report once in a year, in Canada the consumer may order a free copy of their credit report as many times in a year he/she may without any restrictions but as long as the request is made in writing for the printed copy to be delivered by mail. You will find printed statistic on your free credit report that how many times you have received such copies and good thing is this, it doesn’t bring any effect on your credit score.

For more information on how to build or improve your credit history, and how to check for signs of identity theft along the sample credit report Canada and credit score documents you may visit Financial Consumer Agency of Canada. The Government of Canada offers a free publication called Understanding Your Credit Report and Credit Score that you can read online free there, you may also order a hard copy of said publication that is available free of cost to residents of Canada.

View your Free Credit Reports in Canada in seconds!

free credit report canada and free credit score canada

Auto Repair Financing Companies Want You To Keep Driving Your Vehicles Even When You Can’t Afford

What happens if our car got unexpectedly broken down when we can’t afford to pay for an expensive repair? We have to take our car off the road until such a time as we could afford the cost of the repair; it may be a several months to wait if repair have been costing us in thousands of dollars. Anyways, days are gone when we left with no option except to use our credit cards or applying for a personal loan, but if we don’t have credit card or an established credit profile then we could not go ahead to solve our problem. Although credit card is an expensive option that we should only use for the amount, which we can bring back in our upcoming bill payment. Fortunately today we have alternatives to such situations.

The vehicle repair financing is a relatively new kind of lending option in Canada for your consumer as well as commercial lending need that have been opening doors to auto mechanics and auto service centers to establish their business with out loosing their clients that don’t afford timely repair due to money problem. So, you may find a lender through your own auto mechanic, otherwise you may check auto repair financing company directly through yellow pages, local business directories or search engine online.

These auto repair-financing companies offer financing specifically to those with no credit, poor or bad credit history because this financing is offered against their own vehicle where borrower’s vehicle is used as collateral to secure the loan. Financing is secure so most of the applicants are approved even with past bankruptcies. All you need to have is some form of steady income, a car that’s less than eight years old, car insurance, and a clear car title. This type of loan is also works for truckers in which they can get their truck repair loan that usually carry huge expenses.

You’ll also be surprise to know that paying back this kind of loan is also easy and manageable that may take one to two years of equal monthly payments according to your affordability and budget, and you’ll find those repayment terms easy to follow. You can also increase, change or manage your loan payments to best suit your schedule and financial goals. Don’t put your life on hold due to car repairs! Get the money for those car or truck repairs, sign up for an auto repair loan and get your life back on track in next 24 hours.


Personal Loan Look Up! What Are The Loan Seekers Looking For

We have just entered into year 2009, and our future planning about what we have kept for this year will be ready to come up in to life from our mind’s canvas among the promises we did with our family and personal life. Our first ever goal should always be same like staying out of financial crises that come out with our budget over spending, so always keep some thing for the rainy season (In Canadian prospect we can change this verse ‘.. rainy season’ into a ‘.. snow falling’), because our personal financial success depends on our savings. Anyhow, personal finance isn’t a term that could only known by holding a financial degree but it’s a common thing, which even a layman can understand with his own natural instinct. Financial consultants only describe it better in the light of related laws, timely benefits, lenders internal policies, and economic changes which could make your financial decision and transaction more efficient, economic and above all competitive with those who don’t get professional advice.

Beside great variety loan requirements people always looking for some opportunities like what we have this year specially offered to us, and money is the key that holds reality of our dreams, anyhow some people may be looking for the lowest-cost funds for the renovations, new business start up, student loan look up (education), federal loan look up, private and provincial loan look up or other major expenditures and investments.

Bellow are the three possibilities you may be looking forward to establish your personal finance in a normal way of life as a consumer debt this year:

  • First Time Loan Seeker! First time loan application mostly confused people in term of credit profile, because you don’t have any credit score that could support your loan application to get a better interest rate or even it holds a refusal threat. Don’t worry no credit score doesn’t mean you could not get a personal loan. Consult your banker or a credit officer you may have easy access, you may also consult or apply online without any obligation
  • Bad Credit Loan Seeker! You may be struggling for the improvement of your credit profile. You definitely don’t have possibility to get the other loan easily and above all on low interest rates in relation to other fellow loan applicants having high scores. Again you need a financial consultant, although you better know about your mistakes, which became the cause of your poor credit history. Your financial consultant will also highlight other factors which even you don’t know or come up with the mistakes of the credit machinery and above all your financial consultant better knows how he could accomplish your goal with the companies hidden favors which empower credit officer to benefit the right person for the right loan. There are lot of lenders you can find online who are willing to approve your loan applications without over burden your monthly repayments.
  • Efficient Repayment Seeker! You may be looking for a personalized personal loan including mortgage check up in the new year to make sure you have the best repayment strategy for meeting your financial goals to ensure that your payment structure results in to maximum principal reduction and your credit card balances are transferred to a lower interest rate. You may consult your personal loan and mortgage lender to ensure to make it more efficient and economical. For all those who have more loans that they are paying back separately and wanted to go into more efficient repayment structure that also results into their time and money saving, debt consolidation is an ideal and economical way to achieve your financial goals.

From all of us at eLoan Canada, we wish you and your family a very happy new year that will bring all of your wishes come to life with full social and financial support with great creditability.


Understanding Your Credit Report and Credit Score

Tips on How to Keep Your Credit Report, Credit Score and Credit Profile Healthy!

Your credit report and score is the most important financial instrument that requires you to apply for the loan you are looking for. It also determines the interest rate credit lenders will be charging you, your highest score will awards you the most economical rate and your poor score results in even dismisal of your loan application.

The Department of Finance’s rule changes for high-ratio mortgages mean that a prospective borrower’s credit rating is more important than ever when it comes to qualifying for a mortgage loan when their down payment is less than 20% of the value of the property.  Consumers need to be aware of how their credit is evaluated by lenders, and how they can work to avoid so-called bruised credit – people with a lower credit score can find themselves paying a higher interest rate, or even denied access to certain types of personal loans.

A credit report is a detailed history of how consistently you meet your financial obligations, and provides an impression of your financial health based on your credit history and past behaviour.  A credit score is a three-digit number, usually between 300 and 900, representing your overall credit-worthiness, based on personal information from your credit report and other available sources.

Both your credit report and score are important.  When deciding whether or not to grant a personal loan, credit card, mortgage loan and other lines of credit, lenders refer to an applicant’s credit report and score, along with a range of other factors such as income, employment history, business and size of down payment.

The higher your score the more likely you are to be approved for a personal loan including mortgage and receive favourable rates because the lender considers you to be a better credit risk.  Several factors are used by the two available credit agencies in Canada, Equifax Canada and TransUnion Canada to calculate credit scores:

  • Debt payment history.
  • Amounts owed compared to your current credit limits with lenders.
  • How often you seek new credit.
  • Length of time you have had credit accounts.
  • Type of credit, such as car loans, business loans, student loans, lines of credit, credit cards.

Recent news from the financial industry over the past few weeks has highlighted the fact that for many borrowers nowadays, one’s credit rating is an even more important factor when it comes to accessing personal loan including mortgage credit.  By taking a few basic precautions, consumers can protect their credit report and credit score, and increase their access to better rates and a better choice of loan products.

Here are a number of steps that you can take to keep your credit report and credit score healthy:

  • Pay off your debts on time – always meet due dates.
  • Don’t maximum out your credit cards – up to 50% of a card’s credit limit is favorable.
  • Borrow only the amount you can afford to repay.
  • Numerous inquiries for consumer-type credit in a short period of time can worsen your score – make out only necessary inquiries.
  • Check your credit report with regular intervals for errors, omission and mistakes to avoid unexpected problems to your credit profile.

You can obtain a copy of your credit file free from Equifax Canada (1-800-465-7166) and Trans Union Canada (1-800-663-9980).  However, these free credit reports will not contain a credit score and it’s a good idea to get both the reports.  You can order more comprehensive reports including your credit score from these credit bureau companies, for a small fee.


Personal Asset Based Loans and Bad Credit Personal Loans Canada

Got Bad Credit? Need a fast cash for whatever the reason?

Bad credit makes our personal finance difficult, on one side if we are trying to build up our creditability and other side new need is coming up with an only option that is not affordable rather than taking another credit, both sides need money and if I don’t pay the money to the previous loan I can not get my good credit back and without a good credit its not possible to get a further loan and if then the rates will be higher..

Personal asset based loan is a great option that could save us while fulfilling our personal loan requirement without showing our credit profile, yeah personal asset based loan needs only an asset to be backed to obtain a loan in a normal way. You will find lot of lenders who lend on your assets not on your credit profile.

A bad credit loan or personal asset based loan is a fast and easy way to arrange for financing even for your unexpected expenses when you need extra cash fast. You are not even bound to use your credit amount on specific thing; you may pay off your previous credit bills, home improvement, car repair or a dream vacation. 

A bad credit personal loans or personal asset based loans can be obtained by backing up your moveable assets (cars, trucks, boats, machinery or equipment) and immoveable assets (property, apartment, cottage, home or your office) both. Moreover, if you don’t have any assets you may also get such loan if you are in the good books of your employer with whom you have at least two years of steady job.

Personal loan has a great benefits that’s why people trust and want to get it without doubt, enjoy the same features like fixed payments, affordable terms, no money usage restrictions, no prepayment penalty, etc.,


Car Title Loan Canada – Borrow Using Your Vehicle

Get a quick auto title loan against the value of your car while keep driving your car!

Need cash for an auto repairs, credit bills, medical expenses, home improvements, a dream vacations or cash for any purpose without showing any credit profile? Auto title loan is the right solution to get the money in hours! As an online car title loan’s availability, loan application has become so fast and easy from the comfort of your home or office. There are no lines to wait in, no embarrassment. As your loan is based on your car’s value, even folks with poor credit may qualify. You may borrow up to the 70% of the wholesale value of your car even with poor or bad credit.

What is a Title Loan?

A title loan is simply used for auto title loan that may consist of your car, truck or vehicle where one of these titles is used as collateral to obtain the loan.

Car title loan is the personal asset based loans which does not require to submit any credit profile that’s why most of the loan applicants take an advantage of getting this credit facility may have financial instability like having a bad credit, poor credit or even no credit history at all. Car title loan is a secured personal loan which makes lender’s investment more safe that’s why this kind of loan holds usually low interest rate than other regular loans offered as unsecured personal loans.

A Car Title Loans May or May Not Be the Right Loan For You

Like every personal loan, car title loan also hold both voices either in its favor or not. One of the great problem what every one is facing is the repayment, what will happen if we could not repay our loan back, infect we will lose the money or asset and certainly there are the cases in which few people definitely have gone through default and end up losing their vehicles. On the other hand car title loan is not a short-term, high interest loan product like a payday loan or cash advances but it is developed with the same principles of regular personal loans that offers you less rates, more time and liberty over your repayments. Moreover, you can get car title loans within less than 24 hours after approval and having a bad credit doesn’t even hold your approval. But as loan is a loan and we should save our self while enjoying our timely expenses to cover up with taking up the loan while staying in our budgets and managing it, we should know how much we can afford in our additional payments from our savings that we could easily payoff for the certain duration. Before applying for a car-title loan, you should carefully consider what is looking to be the best solution for your financial needs; do you afford it? Moreover, before applying for your car-title loan, you should carefully review the terms and conditions of the loan and don’t hesitate to ask your loan officer where something you feel is missing or unclear.

Car Title Loan Offers

  • Personal Loans for people with bad credit, good or no credit history
  • Fast Cash Advances; an economical and long term alternate to payday loan
  • Consolidation Loans; debt consolidation loan without owning a home
  • Vehicle Repair Loans; emergency car, truck or any automobile repair and maintenance
  • Home Renovations, Home Improvement Loans, Medical Expenses, Education and Student Loans and what ever reason you may have.

Car Title Loan Requirements

  • Your car is less than 8 years old and has not traveled more than 200,000 kilometers.
  • Your car should have a clear title, no leased vehicle or an outstanding loan.
  • You must own the vehicle in your custody.
  • Your car or vehicle must be fully insured, including collision and comprehensive coverage.
  • You must have a steady income.

CARFCO – Truck & Car Repair Financing Co. Canada & USA Offers Fast and Easy Vehicle Repair Financing – BHM Financial Inc. Offers No credit? Bad credit? No problem Title Loan! Say goodbye to sky-high interest rates with a car title loan between $2000-$20,000 while applying here.


Ways To Protect Yourself From Identity Theft and Fraud

January 8th, 2008

Identity Theft Is A New Term But A Wider Old Practice! Like most of the people view that Identity Theft is an issue that relates with the mature people holding credit records, but if you have a social security number, you could become a victim at any time. Mother of a newly born baby ask a question online that ˜How can I protect my newborn daughter from identity theft?˜ This is not merely a question but it is a doubt over a society that have some black sheep among us who don’t spare any one and even a child who has not ability to think about how he or she will have for his or her future. Doubt of a mother clearly states that she have gone through with some kind of mishap. Yeah, her identity was being falsely used for credit purposes when she was just 11 or 12 and she have one option left like to credit freeze to safe guard her child from being affected by this unhappy situation. Her motherhood will not keep her calm from her uneasy mind board that is creating horror graphs but she will be OK by paying a fee to cover her daughter’s identity protection while freezing her credit till she will not grown up to protect or need any credit for herself. Do you think this should be a solution to pay a fee to merely an identity save when we know there are plenty of expenses that we need to cover-up our livings? No, because if everyone will do it then every child with his/her fellow friend will reply in exchange of a hello, yes I am fine so do my credit.. Anyhow, either you have become a victim or have a threat, you should know where to ask for a help and how to get rid from identity theft issue.

Where if today’s advancement in technology has created so much fun doing assorted things to make our lives more productive, simple and fast then on the other hand it also created a great troubling concerns to today’s information economy with the possibility of identity theft that could make our life unproductive, complicated and slow. As an identity theft is a worldwide threatening issue but it has become most popular crime in Canada as well, according to phone fraud statistics 2007, there were nearly 8000 victims reported in the year 2006 throughout Canada who launched identity theft complaints for the loss of more than $16 million hard earn money, Ontario stands in the top affected province, where 43 percent from this Canadian phone fraud statistics lost 47 percent of the total revenue. Moreover, technology advancement may have greater share for overall risk of identity theft but it is not responsible for all the attacks over your privacy and security, the most responsibility goes to human interaction while asking for information and this social engineering holds various loops and pools.

Using another person’s or business entity’s identity fraudulently like misrepresentation, stealing or hijacking to achieve financial and other unlawful benefits to commit a crime. Identity theft may be sub-divided into following three categories:

Economical Identity Fraud involves financial benefits in which using another person’s name or business to obtain a credit or merchandise in the form of goods and services.

Social Identity Fraud involves Identity Cloning in which someone poses his or her identity in daily life to get some benefits he or she may not get like special class, field or designation.

Criminal Identity Fraud involves committing a crime using another identity. Although identity theft is an itself a crime, but criminal nature some time makes it maximum penalty crime like dacoity, terrorism, etc.

Identity Protection Legal Aspects

In Canada, each province has its own privacy law and privacy commissioners to limit the storage and use of personal data while you have right to access and correct that information while launching a request and complain to the privacy commissioner of your province, beside federal legislation’s Privacy Act deals with the federal government, its agencies and crown corporations exclusively. To be brief, Canadian law requires individual consent for collecting, sharing and managing your personal information.

Criminal Code of Canada under section 403 clearly states,
Every one who fraudulently personates any person, living or dead,
(a) with intent to gain advantage for himself or another person,
(b) with intent to obtain any property or an interest in any property, or
(c) with intent to cause disadvantage to the person whom he personates or another person, is guilty of an indictable offense and liable to imprisonment for a term not exceeding ten years or an offense punishable on summary conviction.

When, Where and How Infringement Of Rights Occur

Important and sensitive information can be easily accessed by anyone who has your social security number, social insurance number and other identifying information such as credit card bills or processed checks to further obtain your name, address, date of birth, and mother’s maiden name that may help the identity thief to acquire unlawful benefits over your property and proprietary rights.

Due to the most usage and being a handy credit instrument a Credit Card have become most common and favorite form of credit card fraud for identity thieves which is an easy to target, beside your identity thief can take over your financial accounts, apply for loans, purchase vehicles, open new bank accounts or transfer accounts, shopping other products and services online or offline.

Tips for Identity Theft Prevention And Protection

  1. Be aware of your credit report with updated information, always check your credit report with regular intervals.
  2. Don’t keep your incoming new and renewed credit cards unsigned.
  3. Safeguard your personal information to be accessed by other people in your shared apartment, office and outdoors. Never leave receipts at bank machines, in trashcans, at public dump sites, or staying at your table, ensure and destroy paperwork you no longer need.
  4. Do not carry the personal documents or a written record except when needed. Your Social Security card, birth certificate, bank PIN number(s), computer passwords, passport or credit cards could cause you a heavy loss if stolen or lost. Minimize the risk by carrying only useful things with you or in your wallet or handbag, you can remember.
  5. Check and collect your mails from your mailbox regularly by yourself or someone you trust to pick it up and if you are getting your mails other than a post office box into your mail box then always lock it properly.
  6. Always prefer to collect credit instruments personally other than mailing, like picking up your new check/cheque book at a bank is more favorable then mailing.
  7. Using more than one credit card makes hard to maintain and supervise, so try to reduce the number of credit cards in your usage.
  8. Close all your unnecessary credit accounts with your bank or other financial institution that you don’t use or require more.
  9. Make a list of all of your investments, credit card numbers, passwords, user names and bank account numbers and guard them in a safe place. It is preferred to make a single file as a record that you can easily manage and protect under lock and key. Do not keep them on your computer with out password protected. Moreover, place your file containing sensitive information and record away at inaccessible location while using peer-to-peer file sharing software.
  10. Always properly log-off your email account or other services you are using online, especially while using computer clubs at public places.
  11. Never give or loan your credit cards.
  12. Do not disclose your personal information such as SSN, SIN, date of birth, credit card details, or PIN over the telephone or an email unless you don’t feel secure and sure about the authority.
  13. Before throwing away anything with private information, shred or otherwise destroy it. Remember, shredding your old bills, pre-approved credit card applications, invoices, receipts, credit & bank statements when no longer needed, is the first and possibly most effective way to stop being robed by dumpster divers to access your information.
  14. Before moving to a new and permanent place ask to change your new mailing address and inform all of your credit cards, banks, subscriptions services along with the post office personally of your new address.
  15. In case of credit card is lost or stolen and any other discrepancies you find in your monthly statements, your quick response to report the issuing credit card company is needed to minimize the damage.
  16. Be careful while disclosing and posting your personal information online while using social network web sites like MySpace, StumbleUpon, FaceBook, Perfspot, Bebo etc.
  17. Treat your checks/cheques like money. Do not drop them off at the post office or order your checks via web or ordinary mail, always have them delivered via registered mail or a courier service. Remember, mail theft is probably easier than dumpster diving when it comes to stealing private information, and much cleaner.
  18. When using an ATM pay special attention to those standing next to you. If someone is standing too close behind you, do not feel hesitation in asking them to step back.

Tips for Identity Theft Victims

One of the best tip for those people who have become victim of an identity theft, they should instantly report their problem to the legal authority by searching online and to avoid further threat they should care taking every possible way to protect them selves from happening bad in future and if possible they should take identity protection shield or protection service.

See Your Personal Credit Profile and Credit Score For Free for details!


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