Terry hasn’t been able to obtain a credit card or car loan for quite some time. He is employed & making reasonable income, but is still turned down by every creditor.

While analyzing Terry’s credit bureau report, we found his score- 511 points, a number of collection accounts and a judgment still outstanding. We were able to settle his accounts at a percentage of their respective balances. We also assisted Terry in obtaining both a car lease (a brand new vehicle at 12%,) as well as a credit card, to begin his credit rehabilitation. In just 30 days of RECI working on Terry’s file, his credit bureau score was 550 points. In 9 months, the score was well over 640 points!

Lilly & Jake were discharged from a consumer proposal 2.5 years ago. However, their credit scores were sitting in mid 500′s when they first came to RECI.

Reviewing both credit profiles, we couldn’t help but notice numerous errors in the current records, Furthermore, the proposal itself was still showing a balance outstanding. We were able to acquire the appropriate documents and advise the credit bureaus accordingly. Both clients’ files have seen a significant point increase in less than 45 days. Nine months later both files read over 650 points!

Phillip’s 1st mortgage was due for a renewal at the end of a 5-year term. However, no bank was interested in his business as Phillip was still in the middle of a consumer proposal.

RECI assisted in arranging an early consumer proposal payout via a 2nd mortgage to obtain an absolute discharge. Once discharged, we assisted Phillip re-establishing his credit and obtaining a 1st mortgage through one of our broker partners. After 24 months of following the RECI program, Phillip was able to re-establish his credit as per CMHC (Canada’s Mortgage & Housing Corporation) guidelines and was able to qualify for the best bank rates again.

The Renners were a couple who were recently discharged from a consumer proposal. They hoped this would be the end of their financial complications. Unfortunately, they were left in a situation where they were unable to borrow any credit.

A trustee referred the Renners to us and we successfully updated their credit bureau reports to reflect their recent discharge. This included amended errors that were limiting their credit score improvement. We also obtained two new pieces of credit each, so they could both begin re-establishing as per CMHC guidelines for a home purchase in the near future.

Peter and Kelly used to have a successful clothing business a few years ago. However, there had been some issues with Peter’s health which lead to a very difficult period of time in which the business could not survive. With $80,000 worth of debt, the Peter and Kelly were ready to sell their home and pay whatever they could back to the creditors.

RECI was able to arrange a Second Mortgage with one of their broker partners & co-ordinate a formal consumer proposal offer through a trustee to settle $80,000 worth of debt for $30,000. All that, and Peter and Kelly were able to keep their home.

Lydia approached RECI after her recent divorce. Upon separation, Lydia got to keep the house, with some equity, but was left with a rather large mortgage and an abundance of debt from all the legal fees.

RECI was able to assist Lydia in filing a consumer proposal with a monthly payment of $200, which is a lot more manageable for Lydia’s financial situation.

Ms. DiFrancesco, a client of ours, had over $22,000 in outstanding debt and her wages were being garnished by creditors. Furthermore, she was going through a separation at the time, which left her with numerous additional legal expenses. She was terrified of falling behind on her rent.

RECI assisted her in offering a formal consumer proposal through one of our trustees partners. Payments of $115/month was all that was needed to get her out of that very dark place.

Nolan & Christine have gone through some difficult times after Nolan got laid off his job and the couple has fallen behind on their maxed out credit card bills in an effort to stay afloat. Due to high balances (well exceeding $80,000) it was impossible to make the monthly payment and paying such debt off in full became virtually impossible.

Our calculations showed that the best solution to this couple’s problem was to go bankrupt. Due to the circumstances (lack of tangible assets & relatively low household income), a 9-month discharge was obtain. Nolan & Christine got to keep both the house and the car that they owned at the time of filing. The only thing that they lost were their debts.

Mr. Giddens had a mortgage closing in just 3 days! He also happened to owe over $5,000 in collections debt, which had to be paid before the mortgage could close.

RECI successfully arranged settlement for less than half of outstanding balances, saving Mr. Giddens over $3,000, and allowing his mortgage to close- on time!

“Konstantin of RECI was very meticulous & helpful throughout the whole process. Step-by-step from organizing all the appropriate documentation, setting up appointments, to accompanying me between different professionals. He made sure I was worry free and comfortable. The level of service he provided me with was for sure exceptional. I would definitely recommend RECI to anyone in a similar situation. I’ve learn a lot. Thank you Konstantin and the RECI team!”
“After my bankruptcy I was convinced banks would forever look at me differently. With RECI’s help I was able to re-establish my credit score and qualify for a much better rate on my home refinance. Future is looking bright!”