The guarantor must be making at least $50,000 JMD per month to be considered. The guarantor is required to submit two passport size photographs signed and stamped by a JP, three most recent payslips along with a job letter from his/her place of employment.

Once the loan is granted to you, the guarantor would be required to start repayment thirty (30) days after. Then they would be granted one year to complete repayment of the loan.

The guarantor would take out the loan on the student’s behalf and a monthly salary deduction would be taken from the guarantor’s account.

Once all the documents have been submitted and a background checks have been conducted on the guarantor’s credit history, if approved, a direct deposit would be sent to your guarantor’s bank account or a cheque in your guarantor’s name.

The guarantor stands security for the loan and allows us to make funds readily available to you.

Yes. Once your previous loan has been paid off in FULL then you are eligible to be granted a loan.

Each student can have two guarantors depending on the amount being borrowed. Terms and Conditions apply*

Bad credit is when you’ve had numerous instances of not paying your bills on time. Bad credit causes numerous problems in your financial life. It’s typically measured by the number of negative listings in credit reports and low credit scores generated by those reports. Anything under a 641 credit score is generally considered bad. 641 is generally considered bad when you’re looking at the credit score range in the credit scoring models for which 900 ranks the highest and 250 ranks the lowest (for Credit Info Jamaica).

Negative listings don’t cause bad credit, they are symptoms of bad financial habits. These listings tell a story of late payments, collections, charge-offs, foreclosures, liens, judgments, and bankruptcies. only a lifestyle of living within your means, and habits that include attention to personal fiscal responsibilities can provide a lifetime of good credit. one other culprit? identity theft can also cause bad credit when thieves open new credit accounts in your name or make charges to existing accounts. until you get identity theft sorted out, you may have bad credit stemming from unpaid debts that can result from this situation.

Bad credit can result in:

• New credit being difficult, if not impossible, to be approved for

• Higher interest rates and deposits if you are approved for credit

• Higher deposits on approved credits

• Difficulty qualifying for a house or apartment purchase (mortgage)

Difficulty acquiring access to goods on higher purchase

The credit repair process includes:

• Sending dispute letters to credit bureaus, original creditors, or collectors

• Requesting debt validation for collections within 30 days of the initial collection notice

• Using the pay for delete method to settle old debts that cannot be resolved via credit dispute or debt validation

• Paying off high credit card balances

Building positive credit history

If we aren’t meeting your expectations or you no longer need our service, you can cancel at any time. Just remember, credit repair isn’t going to happen overnight.

To do so, you can cancel your engagement agreement at any time by calling 1-876-778-8064.

A debt validation letter from a collector should include:

• Proof the debt ever existed

• Proof you are the one who owes this debt

• Proof that this collector has the legal right to collect on it

The more times this debt has been sold over the years, the less likely the collector can fulfill all of these requirements. Debt validation can remove collections from your credit report.

Your credit score is a 3-digit number on a scale of 250to 900 that suggests how creditworthy you are meaning, how good you are with credit and how much you can be trusted to pay back what you borrow. Potential lenders will use this number to decide what kinds of credit cards and loans to offer you. Generally, the higher the score, the better the offers.

Generally speaking, there are five tiers/risk grade of credit score. A good credit score is anything above 677.

Your credit can be brought down a lot faster than it can be brought up, so it might help to review these things that can hurt your credit:

– not paying bills on time

– filing for bankruptcy or foreclosure

– applying for too many credit accounts

– carrying high balances on your credit cards

Ignoring questionable negative items on your report

There are five main contributors to your credit score–payment history, amount of debt, length of credit history, credit mix and new credit. Managing your credit wisely by paying your bills on time, paying debt down and maintaining your current accounts could improve your score.

Beyond these five factors, your credit could contain negative items that are unfair or inaccurate, which can stay on your reports for up to seven (7) years. If you don’t want to wait that long, you can try repairing your credit. Call tarpa corp ltd at 1-876-788-8064 to get signed up today.

The three main credit bureaus are CreditInfo, CRIFF, and Credit Information Jamaica. When lenders want to see your credit report, they will request it from one or more of these reporting agencies.

 Your report and score can differ from bureau to bureau because they don’t always have the same information, so we recommend you check each report separately to confirm that everything is on the up-and-up.

Think of credit repair as an investment. A little effort today could save you thousands of dollars (and a headache) tomorrow. We offer a variety of service levels to support every budget. Give us a call today and we’ll help you find the right service for your unique circumstance

A credit bureau is an agency that collects credit information from lenders and other relevant credit information sources on
a borrower’s credit history, and provides that information, for a fee, to prospective lenders. Information acquired from a credit bureau allows a lender to better assess the credit worthiness of a borrower.

The credit bureau is like a warehouse of information about your past credit history. When you borrow money – with a car loan or credit card, for example – your lender reports back to the credit bureaus. The lender tells the credit bureau if you’ve been “naughty or nice” and how much debt you have.

Under the Credit Reporting Act (2010), a credit bureau can collect the following types of information on you:

• Information about your financial means and credit worthiness in relation to transactions in which you were involved

• The amount and nature of loans and advances or other credit facilities granted to you

• The type of security taken from you in respect of credit facilities (including lease financing and/or hire purchase)

• The nature of any guarantee issued by you

• The seven year history of your financial transactions as a
borrower

Credit bureaus also collect information from other sources such as public records.

Yes, you can. However, a credit score is a separate product from our credit report. The credit report shows credit history and the credit score is an analysis of that credit history. Both will be able to be used together or interchangeably depending on the type of product the financial institution is offering. Each consumer is entitled to one free credit report per year, however, that free credit report does not include the credit score. The credit score is available in a special report for a minimal fee.

Are credit reports and credit scores the same thing?

No, your credit score is just one piece of your credit report. Your credit report also includes identifying information, trade lines, credit history, credit inquiries, public records, collections and other late payment information.

There are five main factors to your credit score–payment history, credit usage, credit age, credit mix and recent credit. Your payment history is the biggest contributor on the list and can be directly affected by credit repair.

Your credit report contains things like your identifying information, trade lines, credit limits, account names, credit history, credit inquiries, public records, collections, late payment information, and of course, and your credit score.

Your credit report is generally only looked at by those who are considering loaning you money, like a bank, car dealership or credit card issuer.

Anything inaccurate, outdated or unverified can be challenged with the bureaus and your creditors. This includes collections, late payments, charge-offs, liens, bankruptcies, repossessions and more.

Yes, your creditors may report an item again, even after it’s been removed or deleted. That’s why it’s important to contact both the credit bureaus and your creditors. This will increase the likelihood that inaccurate or unfair negative items will not reappear on your credit.

Yes. When someone uses your name to obtain credit, that tradeline, and any missed payments or collections associated with it, will show up on your credit reports. Even after you’ve recovered your identity, these issues could still be lurking on your credit report. Credit repair is essential to true identity theft restoration.

Yes, but they can also help your credit. Paying your student loans back on time will benefit your score. Alternatively, missing these payments can cause some significant damage to your credit profile. If that sounds like you, or if you’ve missed other payments as a result of your student loans, it may be time to look into credit repair.

Our average client uses our services for six months, so the sooner the better. Especially if you have plans to buy a home or car soon, getting started today can save you a big headache tomorrow.

No. Even after a questionable negative item is removed from your credit, the actual debt is still owed (assuming it was valid to begin with). If you don’t pay the debt, the creditor or collection agency may re-report the listing. Removing a negative item without addressing the debt is only a temporary solution. In fact, if you feel a negative credit listing is 100% accurate, timely and verifiable, we recommend you don’t dispute it.

Unless the collection is being falsely attributed to you, pay it. The collection is likely already hurting your credit score, and leaving it unpaid will only make the damage worse.

If the debt is one that you do not owe, our service levels offer debt validation procedures that can help you get the collection removed from your credit profile

You might think so, but unfortunately, it does not. When you pay an old debt, the negative credit item doesn’t disappear but is typically listed as a paid delinquency, charge-off or collection. If your goal is to repair your credit, just paying off your debts won’t get you there.

Sadly, we do not. Credit repair just isn’t something that can be guaranteed. What we can guarantee, however, is that we will do everything in our power to help you achieve the credit score you deserve.

If we aren’t meeting your expectations or you no longer need our service, you can cancel at any time. Just remember, credit repair isn’t going to happen overnight.

To do so, you can cancel your engagement agreement at any time by calling 1-876-778-8064.

No; Tarpa Corp Limited only offers loans to full-time registered students that are qualified for the work and travel program.

To be eligible for an education loan at Tarpa Corp Ltd. one must first present an acceptance letter to a tertiary institution or an updated transcript of the previous school year.

After the loan has been granted, payments should be begin one month prior to the disbursement date.

Yes. A minimum of 2.0 GPA is required to be granted a loan. Students are advised and encouraged to keep their GPA at or above 2.0 to be eligible to continue a loan process or to be granted a loan in the first place.

If you should choose to discontinue your studies, your guarantor would still be required to fulfil their responsibility to the loan.

Any individual that is gainfully employed for a minimum of 2 years.

It is advised that you start the application process within adequate time before the new school year begins.