rebuilding credit

What if I don’t have enough money to “rebuild” my credit?

January 6, 2013 by admin

In these tough times, there are many people who are living on a very tight budget. In fact, that's probably the reason for filing bankruptcy in the first place. If you're a regular reader of this blog, you know that it's crucial to start rebuilding your credit by establishing NEW credit AFTER your bankruptcy. But what if you don't have enough money to "rebuild" your credit … [Read more...]

Review of Home Trust Visa Secured Credit Card

September 18, 2012 by admin

I've had my Home Trust Visa secured credit card for just over a year and a half. That's been enough time to try it out and get a good feel for it, as well as how it compares to its competitor, the Peoples Trust secured MasterCard. At first, I thought they were fairly similar, but as time went on, I saw some differences. Home Trust Secured Visa vs Peoples Trust Secured … [Read more...]

Peoples Trust Secured MasterCard Review

April 24, 2012 by admin

After using my Peoples Trust Secured MasterCard for over two years now, I felt it was time for a review. If you've been an avid reader of this blog, you know that I highly recommend getting at least one secured credit card as soon as possible, after you are discharged from your bankruptcy. Why get a secured credit card? Because virtually everyone is accepted and they report … [Read more...]

If you've been discharged from a bankruptcy in Canada, you know how hard it is to rebuild your credit and have a happy life - especially in today's tougher economy. Not only that, there is very little information available to Canadians on what to do, and, what not to do, to make a speedy recovery from bankruptcy.

Worse yet, there is a lot of misinformation floating around out there. Many well meaning people (and some not so well meaning people) give inaccurate advice and information. Most have never even filed for bankruptcy themselves! Some even state opinion as fact, and may come across as very convincing - especially if they work in the financial services industry.

You may get advice from someone who recovered from a bankruptcy or bad credit just a few years ago. It may be outdated information already. What worked in the past doesn't necessarily work now. We're in a new credit economy.

Sometimes, what you think is obvious and common sense, isn't. And sometimes, what may seem as strange, is actually the best thing to do.

You should only take advice from people who have actually been bankrupt in Canada and made a successful recovery. Or, from someone who is used to dealing with ex-bankrupt Canadians on a regular basis. Don't let your case be a learning experience for someone else.

Maybe you never really tackled the real underlying issue of WHY and HOW you declared bankruptcy. Some people kept up with bills and had a good credit rating, but chose to declare bankruptcy because they realized there was no realistic hope of ever clearing up their debt. Others had trouble with compulsively racking up more and more debt. The issue may not have been diagnosed or treated and could lead a person back onto the same path.

I try to write at least one or a few articles each month addressing issues seldom, if ever covered elsewhere. Most are from my personal experience. Some are inspired from emails I receive. The more I help my fellow ex-bankrupt Canadians, the more I learn too!

So, congratulations! You've stumbled across one of the best kept secrets - the "After Bankruptcy Canada" website and blog. Virtually all resources presented here are tested and proven to work - BY an ex-bankrupt Canadian, FOR other ex-bankrupt Canadians. I am not a lawyer or trustee in bankruptcy, nor do I pretend to be one, so please be sure to consult proper legal help. All material here is presented for informational purposes only. THIS WEBSITE DOES NOT CONSTITUTE LEGAL ADVICE. Use at your own discretion and risk.