FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

When can we purchase a house after proposal is completed

My husband is 11 months from completing his consumer proposal. We would like to purchase a house when the proposal is complete. Is this possible with his credit rating. His annual earnings are approx. 80000 added to my income of 34000. I do presently own a property and wish to rent it out when we can buy. Is this realistic or how long afterwards will we have to wait to purchase?

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “When can we purchase a house after proposal is completed”

A licensed trustee said...

It is unlikely he will immediately become an attractive credit risk for any reputable lenders. Whta you should be doing now is seeking out a mortgage companies’ advice on the things you need to do in order to qualify for a mortgage as quickly as possible once your spouse completes their proposal.

Generally speaking, we tell people to expect it to be difficult/awkward to obtain new credit for at least 2 years after they complete their proposal.