Comments on: Impact on credit http://www.bankruptcy-canada.ca/after-bankruptcy/2008/06/impact-on-credit.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Barton Goth - Goth & Company Inc. - Bankruptcy Trustees http://www.bankruptcy-canada.ca/after-bankruptcy/2008/06/impact-on-credit.html#comment-43663 Barton Goth - Goth & Company Inc. - Bankruptcy Trustees Tue, 01 Jul 2008 15:13:18 +0000 http://www.bankruptcy-canada.ca/after-bankruptcy/2008/06/impact-on-credit.html#comment-43663 The filing of bankruptcy will have an impact on credit. What takes place is that you will have an R9 listed for 6 years from the date you are discharged (which is usually between 9 and 12 months, so you are looking at roughly 7 years from the date you file for bankruptcy). This is a maximum time frame and can be rebuilt by following the steps provided at this ling: <a href="http://www.bankruptcy-canada.ca/creditRepair.htm" rel="nofollow">credit repair</a>. In terms of being able to apply for a mortgage, there is nothing preventing you from doing so, but usually most banks want to see at least 2 years from the date of discharge and some attempts to rebuild your credit. The filing of bankruptcy will have an impact on credit. What takes place is that you will have an R9 listed for 6 years from the date you are discharged (which is usually between 9 and 12 months, so you are looking at roughly 7 years from the date you file for bankruptcy). This is a maximum time frame and can be rebuilt by following the steps provided at this ling: credit repair.

In terms of being able to apply for a mortgage, there is nothing preventing you from doing so, but usually most banks want to see at least 2 years from the date of discharge and some attempts to rebuild your credit.

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