If I file a proposal or declare bankruptcy, what happens to my credit rating?


When a bankruptcy or proposal is filed the Credit bureaus are notified.  A consumer proposal will be on your credit record for 3 years from completion of the Proposal.  After being discharged from bankruptcy, the information about a first bankruptcy is typically removed from your credit report after six or seven years. Keep in mind that each province is different and will have different variations of the rules. Bear in mind that your name becomes part of public bankruptcy and insolvency records when you file a proposal or declare bankruptcy. These records are available to anyone that makes a request for them.



If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.



WHAT OUR CLIENTS SAY?

Thank you so much for everything you have done for me. These months of lessons will serve me for the rest of my life and I will never be able to fully express how grateful I am for this new beginning!

K.J., Cambridge July 15, 2017

Thanks again Sabrina, I can't say enough how much I appreciate everything you, Paul and company have done for me. It's overwhelming sometimes to think that someone still has their dignity even once th...

T.K. July 7, 2017

While I knew Id made the right decision and entrusted my bankruptcy to the right people, what I did not anticipate was the level of support and compassion I would receive and how empowered I would fee...

B.N., Brantford July 28, 2017

JP Graci and Associates is a wonderful organization. All staff members that I spoke with were very professional and friendly. Everyone was very motivated to help me and they worked very hard to deal w...

Tony M December 11, 2017

I just wanted to express my own and my familys gratitude for everything you did to help us out

N.N. October 11, 2015

The staff were lovely and incredibly helpful. They were empathetic with my stress from the bankruptcy. They also gave great advice on my credit recovery. Thanks especially to Paul for his service and...

Frank S. July 25, 2017

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