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Credit Repair British Columbia - Credit Score BCQuestions? Click to Text. (M-F 9-5.)
Getting Credit after Bankruptcy or a Proposal or a Credit Counselling Debt Repayment Program.
One of the purposes of a BC Bankruptcy is to give an unfortunate but honest debtor a fresh financial start. Part of that fresh financial start is the ability to reestablish a good credit rating.
A diligent debtor will be able to establish a good credit rating in as little as two years after a bankruptcy discharge or the completion of a consumer proposal by following these steps:
Step 1 - Get your Bankruptcy Discharge or the Certificate of Completion for your Consumer Proposal or Division I Proposal from your bankruptcy trustee. Once this has happened the credit bureaus will be notified of your bankruptcy or proposal discharge.
Step 2 - Clean your credit report. Obtain a copy of your credit report and look over it. You can notify the credit bureau of any errors, and ask them to correct the errors.
Step 3 - Get New Credit. Once your credit score is improved you can obtain new credit. You should use your new credit wisely to prove your credit worthiness. A secured credit card can easily be obtained and used to improve your credit and show your credit worthiness. It is also advisable get other credit such as a loan for an RRSP.
Apply for a secured credit card today and you can use the card to start to rebuild a payment history that will be reported to the credit bureaus.