Banks will also refuse to provide mortgages for people who have gone through consumer proposal or bankruptcy. (mortgagebrokerstore.com)
Credit scores are damaged when a person does not pay their bills, has too much overall debt, or has gone through consumer proposal or bankruptcy. (mortgagebrokerstore.com)
In fact, many of these services offer sound advice about debt management, and will explain possibilities such as better household budgeting, working to qualify for a consolidation loan from your bank, using home equity to pay off debt, and the pros and cons of Consumer Proposal or Bankruptcy (for which they will refer you to a Licensed Insolvency Trustee). (bankruptcy-canada.ca)