How do I re-establish a credit rating after bankruptcy?
I was wondering if you could help me. My husband and I did a double bankruptcy. We have been discharged for about 3-4 years now. We tried to get a mortgage but we found out that my credit is fine but his trans union is still showing student loans that we had put in the bankruptcy. Our trustee did not tell us that they were not included or were denied the bankruptcy. We didn’t find this out until we went to a mortgage broker and had our credit check done. Now his credit has been suffering.
We have talked to the trustee and he had told us to get a hold of them but we did and they never called us back.
He had 2 students loan portions and they both said it shows that he does not owe anything.
How soon typically after discharge can you be approved for a mortgage. We both have secure credit cards and we took out a loan for our truck that was for credit repair and that will be paid off this year.
There was a discrepancy about the study end date of my husbands’ students loans. The date we were given was more than 7 years but it was very close.
Do you have any advice?
The easiest fix would be if TransUnion simply made an error in not recording that the student loan was erased in a bankruptcy.
You do not mention how Equifax, the largest credit bureau in Canada, is recording the debt.
If Equifax records the student loan debt as being erased in a bankruptcy then you can assume that TransUnion has made an error.
Simply write to them, attaching a copy of the Discharge Certificate, and ask them to correct the error.
We have very detailed information on how to re-establish a credit rating after bankruptcy: