Yanch Dey & Associates Ltd. Helps You Improve Your Credit History in the GTA

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

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.

Getting Credit after a Bankruptcy

Credit lenders may consider giving you credit after a bankruptcy but granting the credit will depend upon a number of things, including:

  • Your employment history
  • How long you’ve been with your present employer
  • Your annual income
  • The type of credit you are applying for
  • Your other debts, if any

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.

Repairing Your Credit Rating

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.

  • Pay your bills in full and on time
  • Maintain a good relationship with your bank
  • Don’t go into overdraft
  • Make a budget for yourself
  • Distribute portion of your earnings into savings or an RRSP to increase your tax credit
  • Learn to live on 90% of what you make and save the other 10%

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.


Yanch Dey & Associates Ltd.

215 Simcoe St N.

Oshawa, ON Canada

L1G 4T1

Oshawa:  905‑721‑7506

Ajax: 905‑427‑6647

Email: help@burtondey.com


Monday - Friday 09:00 AM - 05:00 PM

Saturday & Sunday By Appointment

Evenings by appointment


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