A bankruptcy will stay on your credit report for six years after you receive your discharge from the bankruptcy (i.e., six years after you finish the bankruptcy). If you're eligible for a 9 month bankruptcy, that would mean that it would stay on your credit report for 6 years and 9 months (just under 7 years).
Your ability to get credit during that time depends on: what type of credit you're applying for; what kind of information has been added to your credit report after you're discharged from the bankruptcy (if all of the new information is good, that helps you; if it's negative information, that will definitely hurt your chances of getting credit); how long it has been since you were discharged (if you were recently discharged, it will take a while before you would be eligible for most types of credit); and other factors.
Many people who have been through bankruptcy are able to get credit while the bankruptcy is still showing on their credit report. The fact that it's on there certainly makes it harder to get credit, but it doesn't rule out your ability to obtain credit.
CIRP, LIT
Senior Vice-President
Servicing: Abbotsford, Chilliwack, Maple Ridge, Surrey, Langley
2025-04-25
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
2025-04-11
Bankruptcy
Considering Bankruptcy and wondering who could find out? Rest assured; your information will stay mostly confidential.
2024-09-25
Bankruptcy
If you’re going through a personal Bankruptcy, one of your main goals is to obtain your discharge — that is, to have your debts cleared so you can start fresh.
