After you’ve filed for bankruptcy, you should continue working to repair your credit history in the GTA. Lenders will usually consider granting you credit once you have been discharged from bankruptcy. The team at Yanch Dey & Associates Ltd. can explain what you need to do to help you improve your credit rating once you’re discharged from your bankruptcy.
Discharged from bankruptcy means that you have completed the bankruptcy process. At this point you will have received a legal document that declares your debts have been permanently and legally erased under Canadian Law. With your discharge document you are no longer liable for the debts that you previously owed and you can start looking at rebuilding your credit.
Credit lenders may consider giving you credit after a bankruptcy but granting the credit will depend upon a number of things, including:
It’s important to note that it’s sometimes easier to get a car loan than an unsecured loan. That’s because the lender has collateral against what they’re lending you.
At Yanch Dey & Associates Ltd. we’re here to help you begin, get through, and move forward from your bankruptcy. Read these tips to repair your credit rating.
If you’re considering filing for bankruptcy the first step is to call and arrange an appointment with our Licensed Insolvency Trustees. Before you consider a bankruptcy you should consider there are alternatives to filing for a bankruptcy like consumer proposals, and debt counselling. There is no charge for the initial appointment to discuss your options.