If you’ve declared bankruptcy in the past, know that you’re not alone. Further, know that your situation is nothing to be ashamed of. No one wants to declare bankruptcy; sometimes, it may be the only solution to a difficult situation.
A number of specific factors go into determining a credit score. Scores change frequently as these factors are based on what someone does or doesn’t do with the credit they already have available. Here is a little insight into what goes into a credit score:
The sooner you pay off your consumer proposal - the better.
RACHEL ASKED: I claimed bankruptcy due to a divorce and was released two years ago. What is the best way to build my credit fast?
Filing a consumer proposal results in an R7 credit rating.