Originally Posted by Kat_Boy
I know it's a pretty private matter, but I am curious. My other half filed BK and was discharged 2 years ago. How long did it take you guys that have been there, before you could do things like take out a bank loan, car finance/lease from a dealer, or mortgages?
I can only answer about mortgages and this is just U.S. standard. It usually is at least 2-3 years. He should try to establish credit as soon as possible with a credit card (typically secured by a savings account for people with past bankruptcy). Is there somewhere local willing to take a chance with him? A small store that he might have done business with that could set up a small loan for him or a payment plan? Anything to re-establish that credit. I know in the US we have mortgage broker companies that will do a mortgage for people with past severe credit issues, but they charge high rates and high closing costs. If you are dealing with a company like this, you just need to decide for yourself if it makes sense for you.
Again, Canada might be different. You might just call and ask the local banks what you can do to re-establish credit. I'm certain they would be able to point you in the right direction. Good Luck!