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A second bankruptcy

What will happen to my credit rating after a second bankruptcy?
Will I ever be able to get a house or a car? (I assume I could pay for a car with cash.)

Posted from: Ontario

One Response to “A second bankruptcy”

A licensed trustee said...

A second filing may stay on your credit report for up to 14 years from the date of discharge (the date your bankruptcy is completed). It will make it more difficult to be approved for any type of new credit in the future. In terms of a mortgage, you may simply need to save a larger down payment.

Before you decide to file bankruptcy review all o fthis with your trustee.