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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 Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Credit after bankruptcy

I went bankrupt in 2002, and everything that was included in the bankruptcy has come off my credit bureau report. However the bankruptcy will remain on for another 2 years.
When I filed, my income was basically nothing but it has increased to the point where I want to purchase an acreage or some land.
Since the bankruptcy I have acquired a car loan and a personal loan,however at higher interest rates.
My question is do you know of lenders that help persons who have filed bankruptcy in the past. I make a good income and my income to debt ratio is low.
Thanks

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One Response to “Credit after bankruptcy”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

While there are lenders who will typically lend to distressed situations, but they will typically charge a premium. My advice is to start with your bank, start small and the more you can develop a relationship with the same institution the quicker you will be able to achieve financing at more reasonable levels.