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How long will it take for me to repair my credit?

My credit history is really poor due to unpaid bills that have been referred to collection agencies. How long will it take for me to repair my credit to obtain a mortgage?

One Response to “How long will it take for me to repair my credit?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

The first step in repairing your credit is learning to better handle your finances. Proper budgeting and setting of priorities for spending can help you get to a position where you can catch up on your unpaid bills. If you are too far behind bankruptcy or a consumer proposal might be your solution. The credit bureau will report the consumer proposal for years after the completion of the proposal. In the case of a bankruptcy it will be reported for six years after your discharge from bankruptcy. Mortgages are secured loans and will be based to a large degree on your ability to manage the financial obligations of the mortgage.