Credit Rebuilding After Bankruptcy
Filing for bankruptcy in Canada is a drastic measure, but it enables you to start afresh without the burden of your past debts.
However, if this moment is to signal the beginning of a brighter financial future, you will need to put the right after bankruptcy care plan in place.
Credit rebuilding strategies should undoubtedly sit at the very top of your agenda.
Need Help Reviewing Your Financial Situation?
Contact a Licensed Trustee for a Free Debt Relief Evaluation
The Benefits Of Post-Bankruptcy Credit Rebuilding
Bankruptcy hits your credit score hard, and it may take several years to reach the very top levels once again.
However, Bankruptcy Canada can develop and follow the winning strategy needed to boost your credit rating back up to 650 or above.
Achieving this goal can unlock a wealth of financial benefits, including but not limited to:
- Qualify for a Canada Mortgage and Housing Corporation (CMHC) approved mortgage;
- Become eligible for other forms of credit agreements and loans, including vehicle financing;
- Secure better interest rates and repayment terms on future credit agreements;
- Avoid the need to ask relatives to co-sign your agreements.
A better credit score reestablishes the sense of financial freedom that you need to truly move on with your life after the complicated bankruptcy process.
Frankly, it’s the least you deserve, and Bankruptcy Canada can help you accomplish those goals far sooner.
How Professional Credit Rebuilding Works
The post-bankruptcy credit rebuilding process needs to cover a comprehensive range of factors to ensure maximum progress in the quickest time without the fear of taking any backwards steps due to oversight or poor decisions.
This is why you should always leave the planning processes to the experts.
Bankruptcy Canada will implement a step by step strategy to boost your score to a healthy score of at least 650.
You can expect to experience the following steps:
- A full and comprehensive audit of your current credit score to analyze how badly it has been impacted by the bankruptcy while also fixing any errors that may appear in relation to your personal data;
- The immediate use of ideas that can support your future financial health, such as closing dormant accounts and ensuring that you appear on the national register;
- Identification and implementation of the best debt relief strategies to repay any outstanding bad credit while also ensuring that the payments are built to boost your credit score;
- Creation and utilization of a personalized credit building strategy that can include items such as secured prepaid credit cards and a range of similar products;
- Ongoing support to ensure that your improved credit score remains healthy while you stay updated with the latest and most accurate information regarding your credit score.
If you are eager to use your bankruptcy as the start of a new and improved approach to financial responsibility, our expertise provides the guidance and information needed to accelerate the recovery.
Crucially, we take accountability and work with full transparency to ensure that your finances stay on track for years to come.
To find out more about how Bankruptcy Canada can support you during the post-bankruptcy credit rebuilding process, give us a call on (877) 879-4770 today.
Canadian Bankruptcies
How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?
