4 yrs to Discharge. Help!
I filed for Bankruptcy in 1999. The trustee lost some of my papers (Stock cert) and after years of battling with the trustees it took until Jan 2003 for a discharge to go through.
I have been trying to get credit since then and absolutely no one will touch me. I even tried for a $1000 RRSP loan yesterday and was turned down. I have a co-loan for my car and that has been reported for two yrs now as well as a secured credit card also two yrs, never miss a payment and always pay the balance of my credit card. Had it not been for the lost stock certificate this would be cleared off my record as it has been 7 yrs. How do I go about fixing this? Everyone is telling me something isn’t right. I know people that make less then I do that have claimed Bankruptcy and they are able to get loans. I am so incredibly frustrated, all I want to do is build my RRSPs back up to what they were before I lost them and be able to get a loan without a cosigner.
Any ideas out there?
Unfortunately, only two things can repair your credit rating – time and the responsible use of new credit. Most people areable to access new credit 3 or 4 years after they have been discharged. The fact tha you cannot indicates that sometime since your bankruptcy there may have been some additional “bad” items reported on your report. IT might be a bounced cheque, or a missed payment. IT may be that one of your pre-bankruptcy debts has been re-reported.
I suggest you obtain a copy of your credit report from Equifax to determine whether or not something has been reported that shouldn’t be there. If you find an error you will need to follow the bureau’s “dispute resolution procedure” to have it corrected.
Good luck – repairing a screwed up credit bureau is not easy or quick.