2024-09-25
What happens if I don’t fulfill my duties during a Bankruptcy?
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.
How Long Does My Bankruptcy Stay On My Credit Report?
A bankruptcy will stay on your credit report for 6 years after you finish your bankruptcy and receive your official Discharge.
In some cases, you can start to rebuild your credit rating during a bankruptcy - for example, if you are making payments on a mortgage or vehicle loan. Once you finish the bankruptcy and get your discharge, you may wish to look at a secured credit card as another way of getting some good information on your credit report. If you have any other questions, feel free to contact one of our team members.
Linda Paul
CIRP, LIT
Senior Vice-President
Servicing: Abbotsford, Chilliwack, Maple Ridge, Surrey, Langley
Latest Blog Posts
2024-06-10
Life after Bankruptcy
Bankruptcy
The fresh start you obtain after filing a Consumer Proposal or Bankruptcy offers many new paths for managing your day-to-day needs and planning for your future.
2024-05-30
How Often Can You File For Bankruptcy (MNP 3 Minute Debt Break)
Bankruptcy
Canadians are facing a cost-of-living crisis. With rampant inflation, many have taken on more debt just to make ends meet. With interest rates still high, some households might be considering declaring Bankruptcy for the first, second, or even a third time.
If this sounds like you, don’t worry — many people are in the same situation, and it isn’t anything to be ashamed of. Filing for Bankruptcy or entering a Consumer Proposal might be the solution you need to relieve financial stress and get a fresh start.
