New Credit application for bankrupt

July 3rd, 2013 by Questions

Are there regulations preventing financial institution to approve a new credit for a person who filed bankruptcy?

Posted from: Ontario


One Response to “New Credit application for bankrupt”

, A licensed trustee said:

No there are not. Of course they are under no obligation to approve anyone for new credit, bankrupt or otherwise.

If you are still in a bankruptcy, you are required to disclose that fact if you are applying for more than $1,000 in credit. If your bankruptcy has ended then you are only required to disclose the fact that you were bankrupt if asked.

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