Tag Archives: credit report

Bankruptcy & Consumer Proposal: A Remedy For Poor Credit

10 Aug 2015

credit score bankruptcy consumer proposal

There are a number of questions that are common to most, if not all of the people I meet with. If you have a car, you want to know if you can keep it (the answer is, almost always). If you run a business, you want to know if you…

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Which is Better For Your Credit Report? Consumer Proposal or Bankruptcy?

17 Mar 2014

bankruptcy or consumer proposal and credit report

The fact that you filed a consumer proposal will stay in the legal section of your credit report for up to three years after you complete your proposal. This is in contrast to the 6 years that a bankruptcy will be reported. Of course the comparison is not that simple. …

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Yes Virginia, There Is Life After Bankruptcy

05 Feb 2014

The problem most people have with bankruptcy is that they just don’t know enough about it. They don’t know what is involved, and more importantly, they don’t know how it ends, or if it ever ends… The Bankruptcy and Insolvency Act was created to allow the honest, but unfortunate debtor,…

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How Does Bankruptcy Affect My Credit Rating?

09 Oct 2013

Your credit report is maintained by one of two major credit rating agencies in Canada: Equifax and Trans Union. When you apply for a loan, whether a credit card or a mortgage, your lender will review your credit report. This report contains information about whether or not you have unpaid…

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After Filing Bankruptcy in Canada, How Long will it be on my Credit Report?

07 Nov 2012

How long will bankruptcy show on credit reports in Canada for the first time bankrupt after receiving a bankruptcy discharge? There are two large credit reporting agencies in Canada: Equifax and Trans Union. Unfortunately neither of them is very forthcoming with regards to their credit reporting practices. A few years…

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Effects of Filing Bankruptcy in Canada

31 Jan 2012

Bankruptcy has implications, both good and bad. There are four major effects of filing bankruptcy in Canada you should consider if you are thinking of filing personal bankruptcy as a way to get out of debt: 1 You will lose your “non-exempt” assets. The rules vary from province to province, but…