obtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considereThere are many misconceptions about how a bankruptcy impacts one’s credit. The largest of which is the belief that by filing for bankruptcy in Canada you eliminate any future ability to borrow money. This is not the case. Realistically there is only one restriction on borrowing money that exists, and that is while you are in bankruptcy (i.e. prior to receiving a discharge) you are not eligible to borrow $500.00 or more without informing the lending institution that you have not been yet been discharged from bankruptcy.

Now this doesn’t mean that every lender is required to loan you money, nor that loans will be easy to get after filing a bankruptcy but with a little effort loans are easier to obtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considered

ility to borrow money. This is not the case. Realistically there is only one restriction on borrowing money that exists, and that is while you are in bankruptcy (i.e. prior to receiving a discharge) you are not eligible to borrow $500.00 or more without informing the lending institution that you have not been yet been discharged from bankruptcy.

Now this doesn’t mean that every lender is required to loan you money, nor that loans will be easy to get after filing a bankruptcy but with a little effort loans are easier to obtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considere

receiving a discharge) you are not eligible to borrow $500.00 or more without informing the lending institution that you have not been yet been discharged from bankruptcy.

Now this doesn’t mean that every lender is required to loan you money, nor that loans will be easy to get after filing a bankruptcy but with a little effort loans are easier to obtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considere

>Now this doesn’t mean that every lender is required to loan you money, nor that loans will be easy to get after filing a bankruptcy but with a little effort loans are easier to obtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considereobtain than most people initially assume. When looking for a loan it is important to remember that when institutions are looking to lend money, a number of factors are considered, including your credit history, your income, how stable your income is, what types of assets you own, the debt load you carry and how much money is left over in a normal month after you have paid all you living costs. The important thing to note is that when you look at this list the only item that is negatively affected by a bankruptcy is your credit history. Funny enough, some of the items (i.e. your debt load and cash flow) now appear more positive. So what most people fail to realize, to the lending institution you are in a much less risky position as a result of filing for personal bankruptcy than you would have been if hadn’t filed.

Despite being in a less risky financial position, obt