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| Author: |
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Jennifer |
| Date: |
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December 8, 2004 |
| Question: |
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How does filing bankruptcy affect your credit rating? Does it affect it positively or negatively? Also I heard that by filing bankruptcy you are not allowed to apply for credit for 7 years, is this true?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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December 8, 2004 |
| Answer: |
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A bankruptcy will take your credit rating to an R9, the lowest rating,
and will remain there for 6 years after you are discharged. If this is
a second bankruptcy, it will remain on your credit record for 14 years.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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