Personal Bankruptcy Canada Blog » Credit Repair

bankruptcy

Questions — Wed, 28 Dec 2011 02:45:55 +0000

can i still build my credit up after discharge during the seven year wait ?

Posted from: Ontario

Restarting again

Questions — Tue, 30 Aug 2011 11:38:36 +0000

I declared bankruptcy in april 2007. Its been 4 years since. i was discharge after 2 years. I want to try and restart my credit again. if I get a secured deposit credit card, will it help me at the credit bureau, or does it not make a difference for 7 years anyway?

Also, would it be a better option to go under my wife’s joint account and get a supplementary card with my name on it?

What do you suggest?

Posted from: Ontario

Closing CC Accoung

Questions — Wed, 04 May 2011 11:18:48 +0000

I am separated from spouses; however we have high debt on credit card. If I close account, will this stop interest from compounding. We will try and make minimal payments to debt but the interest is too much.

Posted from: British Columbia

Secured Credit Cards

Questions — Mon, 25 Apr 2011 11:28:55 +0000

During the time of bankruptcy, is a person allowed to have a secured credit card? Not prepaid, but secured.

Posted from: Ontario

reporting to credit agencies?

Questions — Tue, 15 Mar 2011 12:01:53 +0000

I had 3 creditors included in my bankruptcy. My bankruptcy has been cleared from my credit report (more than 6 years since discharge). I just got a copy of my credit report and one of my creditors is still reporting every month – it does have a note “included in bankruptcy”. Should this not have ‘disappeared’ after the bankruptcy did? Or can they indefinitely be reporting to the credit bureaus so that you can always see it??

Posted from: Ontario

Humble

Questions — Wed, 09 Feb 2011 23:55:15 +0000

My proposal was accepted Dec 2009. I am repaying $500/ month for about the next 6 years. recently in the bank i was told that my financing and mortgaging options were limited since \”you filed bankruptcy for over $300,000\”. How do i go about setting the record straight with the Bureau, and open more financial options for myself while repaying my debt? Right now nobody wants to touch me.

Posted from: Alberta
CATID10

Credit Unions

Questions — Sat, 22 May 2010 16:33:55 +0000

Hi
Is it possible for me to get a (Free) credit report from the Credit Unions, Equifax and Trans Union as I do not have a Credit Card or a whole lot of money? I have already sent them my discharge Certificate and I would like to know my credit status. `Free`

Thanks for you information

Posted from: New Brunswick

rebuilding credit with nominal payment

Questions — Wed, 19 May 2010 13:05:47 +0000

I am eligable to claim bankruptcy but would prefer not to, I have 2 vehicles that had been repossessed so owe over $20,000 on them, I want to rebuild my credit and was told if I set up a payment plan where I even paid $50 a month my credit score would build so long as I did not miss payment, is this true?

Posted from: Ontario

R7 Rating and how to repair credit

Questions — Wed, 07 Apr 2010 01:56:14 +0000

After having an R7 rating, it will take 3 year to clear from my credit report? How can I rebuilt my credit from an R7 rating? How soon can I apply for credit cards again to rebuilt my credit?

Posted from: Ontario

very bad credit

Questions — Wed, 04 Nov 2009 02:36:25 +0000

I found out that my credit score is very bad, but I have no balance on my card now. How do I repair my credit so it won`t hinder any of my application(mortgage). How long does it take before you are back in the good books?

Posted from: Ontario

need some help

Questions — Tue, 20 Oct 2009 15:59:57 +0000

I received my credit report from Equifax and have an outstanding debt. It has been 2 years so the statute of limitations sets in. My question is. How do I have it removed from my credit report. And what constitutes `acknowledgement of debt` ?
Is there any way to fix this without starting the 2 years again?

Posted from: Ontario

Applying for Credit

Questions — Tue, 29 Sep 2009 16:39:56 +0000

When can I apply for a secured credit card if entering a proposal. Is it immediately after I file the proposal or do I have to wait till the proposal is accepted?

Posted from: Ontario

credit card

Questions — Tue, 15 Sep 2009 22:10:38 +0000

If i have a credit, without a debt, can I keep it after i file for a bankruptcy? Or is all credit cards to be surrendered whether I owe or not? Thank you.

Posted from: Ontario

SECURE CREDIT CARD

Questions — Tue, 18 Aug 2009 20:05:02 +0000

Can I apply for a secure credit card while in the bankruptcy process or do I have to wait until I am discharged?

Posted from: British Columbia

Credit Rating Standing

Questions — Mon, 17 Aug 2009 16:42:59 +0000

I am in default of my mortgage. If I file bankruptcy then decide to convert to a proposal will I have all three (foreclosure, bankruptcy and propsoal) dreaded stamps placed on my credit rating? 6 years after discharge to clear from bankruptcy, 7 years to clear for the foreclosure and 3 years for the proposal?

Posted from: Alberta

After proposal/credit repair

Questions — Wed, 10 Jun 2009 17:20:57 +0000

How long after a consumer proposal is satisfied can creditors make derogatory remarks on my credit report

Posted from: Ontario

need a credit card when making reservations

Questions — Thu, 07 May 2009 14:10:28 +0000

To make a reservation or purchase online they require a credit card. Is there any type of card that serves this purpose if one has claimed bankruptcy or a proposal. This seems to be the standard practice
Thank-you

Posted from: British Columbia

* year old debt

Questions — Mon, 20 Apr 2009 01:32:59 +0000

I had credit cards (zellers, visa, canadian tire) cards 8-10 years ago. I had balances that I could not handle at the time totalling 2000.00 for each card. After it being on my crdiet bureau for 8 years collection agencies are bugging my for their money. My credit report is great right now and was wondering if they can destroy it again. I am in the middle of purchasing a new home and I am worried this might affect it? Can they ruin it again for me. Isn`t there a statue of limitations of 7 years?

Posted from: Ontario

Secured Line of Credit?

Questions — Sun, 12 Apr 2009 15:52:49 +0000

Discharged from bankruptcy last year…Have some cash available and would like to get a secure line of credit. I heard that it helps with repairing credit. I already have a secured credit card but the credit limit is low. If I got a secured line of credit, would it help my credit? Will the banks accept cash as a collateral?

Posted from: Ontario

how soon after a proposal can you start rebuilding credit

Questions — Wed, 08 Apr 2009 23:18:52 +0000

How soon into your proposal can you start rebuilding your credit? Is there no point in rebuilding until the 7 years are over?

Posted from: Ontario

Credit Counselling

Questions — Mon, 23 Mar 2009 19:02:25 +0000

How long does it take after completing a Credit counselling program do u get in the clear.
Sandra, Ontario

Posted from: Ontario

Car Loan

Questions — Fri, 16 Jan 2009 00:10:38 +0000

This might be a dumb question I have not missed a car payment for the past 7 years I have had a 2003 Pontiac G6 and now I drive a Pontiac Torrent 2008. I made dumb mistake and last year I co-signed for a friend for a car now he is not making payments I have indicated to GM to go and pick up the car .I know I will take a hit on my credit score. But can GMAC take my Torrent which I have not missed a payment Thanks

Posted from: Ontario

Collection Agencies, Buying a Home

Questions — Fri, 21 Nov 2008 23:04:32 +0000

I have declared bankruptcy back in 1999 and I have a Canada and Newfoundland Student Loans from 1999 which I have been paying to a Collection Agency since May 2007. Since my bankruptcy, I have built up excellent credit ( I have credit cards, and a new car) over the past 5 years. I am trying to buy a home but on my credit bureau rating my student loans show up from 8 years ago, yet I am paying on them through a collection agency but I receive no credit on my credit bureau report. and therefore I have been turned down for a mortgage. I now earn about 70K a year so my income is not an issue. Is there anything I can do to help my chances for a mortgage?

Posted from: Newfoundland and Labrador

credit after bankruptcy

Questions — Tue, 21 Oct 2008 02:49:23 +0000

I just wanted to share an encouraging story. My husband I filed joint bankruptcy in October 2006. We were discharged in August 2007. We immediately applied for secure credit cards which we have been using for over a year, and paying off completely. Six months ago, we applied for a loan for a car and were quoted around 20%. We held off, spent the last 6 months continuing to use and pay off our credit cards. We just got approved for a car loan at 13%! Still more than a `normal` person, but that is a 7% difference from even 6 months ago!

So for those who are considering bankruptcy, all is not lost – the future can be bright! And you will get credit again!

Posted from: Ontario

ignoring creditors

Questions — Thu, 25 Sep 2008 20:42:41 +0000

I owe a few creditors for the past few years. I haven`t made any payments. I`am looking to repair my debt, but unsure what to do. I owe to credit cards, banks, utilities totallying about $8000, and my spouse owes about $15000. just wondering what steps i should take to fix this burden.

Posted from: Manitoba

do i have to pay

Questions — Mon, 15 Sep 2008 23:25:11 +0000

I owe canadian tire from 1998 they said they took me to court in december 2004 now in 2008 september a collecting agency say`s I owe 1800 dollars and they want 600 dollars. its not on my credit report. do I have to pay them and can they put it on my credit report now so many years after

Posted from: Quebec

Help in this situation

Questions — Fri, 12 Sep 2008 19:26:56 +0000

I have been divorced for a few years and the process was financially crippling. I am now thinking of getting re-married but have bad credit from some unpaid bill problems stemming from the divorce. It has been around 6 years since I accrued these debts. Will my bad credit effect my new spouse, can the creditors start coming after her? Does my credit ever start repairing itself without me going bankrupt?

Posted from: Ontario

Does it help repair credit?

Questions — Wed, 30 Jul 2008 22:50:28 +0000

My husband and I filed for bankruptcy in May, but we were able to keep our house because there was no equity in it. Our mortgage payments have always been up to date, and they continue to be. What I`m wondering is will that help to repair our credit after we are discharged? Will lenders look at the fact that our mortgage payments are always up to date? Thanks.

Posted from: New Brunswick

Copies of previous bankruptcy informaiton.

Questions — Fri, 30 May 2008 18:51:48 +0000

I declared personal bankruptcy in 1998. How can I get documentation this proves this claim? I`ve moved several times and don`t recall where I left my old personal files on this matter.

Posted from: Ontario

Credit Repair After Discharge

Questions — Thu, 27 Mar 2008 14:21:56 +0000

How can I repair my credit after my discharge. I have been discharged for over 3 years now and still don`t even have a credit card.

Thank You,

co signer for loan

Questions — Wed, 13 Feb 2008 00:28:50 +0000

Is co-signer liable for unsecured credit line, if the co- signer didn`t spend the money?

Post bankruptcy

Questions — Tue, 05 Feb 2008 20:43:24 +0000

I have been discharged 5 years but still have poor credit score….I have a credit card , mortgage, with no late payments, both of which I recieved after discharge. How much should I expect my credit score to go up once the backruptcy is off my profile.

Ms

Questions — Thu, 24 Jan 2008 04:12:12 +0000

I have previously declared bankrupsy over 7 years ago and have been discharged. I am considering bankrupsy again due to medical expenses. How long wikk this stay on my credit

Capital One CREDIT card…

Questions — Tue, 22 Jan 2008 23:54:56 +0000

Once I have been discharged from bankruptcy, I would like to rebuild my credit. I heard that there is such a thing as a secured credit card (Capital One) has something like that.

My problem is that I had a Capital One credit card before I filed for bankruptcy and the balance was written off when I eventually filed for bankruptcy.

What`s the likelyhood that Capital One will issue me a secured credit card ?
Is there somewhere else that I can apply for a secured credit card in case Capital One will not give me one ?

Thank-you

creditor enquiry

Questions — Thu, 20 Dec 2007 20:54:14 +0000

I pulled my credit report with both TransUnion and Equifax and I noticed there were several creditors (eg. MBNA, Capital One…), who had entered my credit report to do some enquiry. By doing so, I believe I loose credit score everytime they have enquiry in there. How do I stop them? Please show me. Thank you.

Germany coming after me here in Canada??

Questions — Fri, 16 Nov 2007 18:12:45 +0000

I got a letter yesterday from a debt collector stating I owe money to a bank in Germany. What can I do as I live in Ontario Canada. Can a bank come after me here in Canada throu a debt collector? How do I know for sure it is my debt? Yes I use to live in Germany–7 yrs ago but I cleared everything up when I left–or so I thought. I never recieved notice or any letters about this so called debt. What is my rights? What can I do?

Automobile Lease

Questions — Wed, 10 Oct 2007 02:22:01 +0000

If I make a proposal to my creditors and it is accepted, and at some point in the near future I need to replace my car (paid for), is it possible to get a lease or loan to buy a new one?

Future credit reports

Questions — Sat, 15 Sep 2007 02:58:42 +0000

We`ve recently had our bankruptcy discharged and I`m wondering what we should do in the next few years as far as obtaining copies of our credit reports. As a victim of identity theft in the past, I have requested a copy of my credit report from both Equifax and TransUnion every year, to ensure that there was nothing on it that shouldn`t be.

Seeing as our bankruptcy obviously means we will have a difficult time obtaining new credit accounts, is there any reason to continue getting an annual credit report over the next few years? I know there is no harm in getting one, but having already been a victim of identity theft, I am always hesitant to mail copies of my ID to anyone, which is something I have to do every year when I request my credit report (I know I can pay to get it online, but I`d rather save the money on that).

rebuilding credit

Questions — Mon, 20 Aug 2007 17:51:45 +0000

My husband and I filed joint bankruptcy last year and have recently been discharged. We want to start rebuilding our credit as soon as possible and have been looking into the secured credit cards. Since we filed joint bankruptcy, we obviously need to rebuild my credit and his – but we cannot afford the fees needed to secure a credit card in each of our names right now. My husband has the larger income. Should we work on rebuilding his credit first?

Harassment after discharge

Questions — Thu, 09 Aug 2007 13:29:11 +0000

Hi, I have been discharged from bankruptcy over two years now. Since then I have been trying to do everything possible to repair my credit, paying all my bills on time and even obtaining a credit card, which I use responsibly. Recently, I received a letter in the mail from a lawyer of one of the creditors involved stating that they want payment plus interest for the amount I charged during the last month before filing, claiming fraudulent usage (article 178). Basically their argument is that by filing for bankruptcy it proves that I knew I was in financial trouble but used the card anyways. This is absolutely untrue as it was the most difficult decision I ever had to make, one that I made with the advice of a credit counsellor who felt it was my only option! During the course of the 9 month period of bankruptcy I did everything I was supposed to
do, and in the end it proved to very costly both financially and emotionally, but I looked towards a brighter future. Recently though, I get this letter and it feels like 3 years ago all over again. If this creditor had any issue over how the card was used in the last month why didn\’t they state their case before my discharge? Why wait all this time and now look for the money plus interest and put this incredible stress back on me? I have talked to my trustee and they say to ignore the letter as a possib do, and in the end it proved to very costly both financially and emotionally, but I looked towards a brighter future. Recently though, I get this letter and it feels like 3 years ago all over again. If this creditor had any issue over how the card was used in the last month why didn\’t they state their case before my discharge? Why wait all this time and now look for the money plus interest and put this incredible stress back on me? I have talked to my trustee and they say to ignore the letter as a possible scare tactic to get me to pay. I just received another call from the lawyer and the trustee is now sending me a letter on what to do if this continues….obviously my mind is far from at ease because I am sending this email. Can you give me any advice here on what I feel is nothing more than unjust harassment? Thanks.

credit rating error

Questions — Tue, 05 Jun 2007 22:11:51 +0000

Hi, I am currently in bankruptcy. I owed 30,000 on a credit card to a creditor (Scotia Bank). When I applied for this card I alone signed the paperwork but requested a supplementary card for my wife. She has never signed any paperwork nor had she ever activated the card. Scotiabank never came after her for the money but now have reported her to the credit bureau thus affecting her credit rating. They are unable to prove their claim that she was a co-signer. I have asked for documented proof a number of times with no luck. How can my wife get this mistake fixed?

Rebuilding Credit after a Consumer Proposal

Questions — Fri, 11 May 2007 15:37:48 +0000

I have recently completed a consumer proposal (8 months ago) and I am in the process of rebuilding my credit.
(I currently have a secured credit card) but I would like to purchase a car. Would it be better for me to wait until i have 1 solid year of credit history with my credit card or should I attempt to get a loan now?

Visa Card in BC

Questions — Sat, 03 Feb 2007 17:46:00 +0000

Are you able to provide a link or list of banks that will grant a secured Visa or Mastercard. Also a list of banks who will be helpful after discharge from first time bankruptcy. I want to repair my credit right away.

Thank you.

How does applying to rent an apartment affect me after discharge?

Questions — Tue, 30 Jan 2007 15:09:00 +0000

I was discharged last April and I plan to rent an apartment in May 2007. I don\’t want to have a co-signer and I have been taking steps to repair my history: fixed inaccurate credit reports with all three credit bureau\’s, I have an RRSP, and I have two secure credit cards.

Are there any restrictions? I am steadily employed.

I\’m in the province of Ontario and this is my first time declaring bankruptcy.

consumer proposal completed in oct 2005

Questions — Sun, 27 Aug 2006 18:08:00 +0000

how long do credit bureaus keep a consumer proposal on record, and can this be repaired

Does a Paypal Credit card help rebuild credit?

Questions — Thu, 29 Jun 2006 12:38:00 +0000

I am about to be discharged from my bankruptcy (next month). I have credit card from Paypal, that is actually more like a debit card – I can only spend what is actually in my Paypal account, nothing more. But the card is a Mastercard and can be used anywhere that a credit card can be used.

Would this card count towards rebuilding my credit, or should I still consider getting a secured credit card?

personal bankruptcy, credit card

Repair Credit

Questions — Tue, 26 Jul 2005 20:00:00 +0000

I have an illness that has affected me over the years-I had to claim bankruptcy over 10 years ago and have had a struggle getting back on my feet.

I would like to repair my credit over time but I have absolutely no idea of how to go about it.
The frustrations of bad credit on quality of life are almost insurmountable.

Do you have any info on how and where to get started??