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?

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

HI Paul. Once very long ago my husband used your services, thank you ... you helped him get his life back on track. I work with mortgages. At times I help my client settle with creditors to get them b...

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I am very happy with J.P. Graci & Associates. They went over and beyond to help me. Thanks a million

Anne L. July 21, 2017

Thank you, you made my job so much easier.

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I am so impressed with the support and customer service from the team at J.P. Graci and Associates. Thank you for the wonderful service!

Sam R. May 15, 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

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