Kanetix
Credit Card Forum

I wasn't able to make payments on my credit cards for a while because of a serious injury. I wasn't working and ended up dipping into my savings just to be able to cover rent until I could work again. Is there any way I can fix my credit now?

Your lender may accept a detailed letter explaining your circumstances and may be able to over look a credit problem if you can provide a very good reason for failing to pay your bills.

If you have a steady track record of paying your bills on time, but failed to pay your credit cards due to an unexpected or temporary situation you may want to contact your lender and explain your situation. If you have documentation from your doctor, that will add credibility to your file as well and it will become part of your loan application.

Paul Sidhu, Principal Mortgage Broker at KTX Financial Ltd.

Neither Kanetix® nor the KanetixForum.ca is a mortgage broker or agent. Although this information has been passed along to you from KTX Financial through the Forum, we are not responsible for the opinions expressed by them. Mortgages can be complicated. When reading these answers, keep in mind each person's situation is unique. Individual responses may vary depending on your lender, geographic location, and specific circumstances. If you have a similar situation, always speak with your mortgage provider, or a licensed mortgage representative, for terms and conditions that may apply to you.

That is good news to hear. Thank you very much Paul.

Cheers to you.