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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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What credit score is worth struggling for?

I have been struggling with debt since leaving university 7.5 years ago. I am happy to report I have paid off $25,000 in student loans but have managed to rack up a $23,000 in line of credit in that time. So I`ve really only paid off $2000, but I haven`t missed a payment and now have a credit score of 749. But honestly it is a struggle and I still feel like I am losing the battle every month. I make all my payments by swapping money through the accounts each month. Is it really worth continuing this pattern, just to try to uphold what I think is a good score?

Posted from: Ontario

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One Response to “What credit score is worth struggling for?”

A licensed trustee said...

I think you nee to speak to a professional about your situation. Your credit score is as important as your access to credit – if you require access to credit then the score is important. If you don’t require access to credit then it is not.

Try speaking to some one at your bank, or contacting a local credit counseling agency (a not for profit, not one of these “debt consultants that are popping up everywhere) to see if you can get some help with budgeting and financial planning.