2012-03-16
Watch the video or continue reading below. When a person goes into bankruptcy he has to hand in all his credit cards to the trustee. After that person has been discharged from bankruptcy, he or she is often a good credit risk, since that person has no debt. Regardless, a discharged bankrupt often has a difficult time getting a new credit card. An option is to acquire a "secured credit card". A "secured credit card" is a card backed-up or secured by funds you have deposited with the financial institution. The card looks like a credit card, and acts like a credit card but will have a limit depending on the amount of money that secures the card. Using a secured credit card is a quick way to rebuild your credit rating after being discharged from a bankruptcy. For more information about secured credit repair and credit cards after bankruptcy, pleasecontact me directly or consult ourBankruptcy FAQ.
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
