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Obtaining credit during a consumer proposal

Hi just wanted to know if you are filed for a consumer proposal and it got approved, the person is in their first year. Is it possible to apply for credit mainly a mortgage while on a consumer proposal. Also is it possible to apply for credit in general?

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One Response to “Obtaining credit during a consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

There is nothing that prevents you from trying to obtain credit during a consumer proposal. Obviously there will be negative information on the credit bureau that is associated with the proposal so it will be up to the lending institutions to digest this, but technically there is no problem.