Is your credit rating affected?

Posted on: June 9, 2017

Posted in Credit, Credit Rating | Comments Off on Is your credit rating affected?

Is My Credit Rating Affected?

In this video, Licensed Insolvency Trustee in the GTA area, Richard Killen, talks about the how your credit rating will be impacted by your current financial situation and is not directly due to the fact that you are undergoing bankruptcy or a consumer proposal. As a matter of fact, it is the solution you need to get out of your financial troubles and start improving your credit rating.

Here are a few key takeaways from Richard’s informative clip:

  1. Of course, a person’s credit rating is affected, but not so much by the bankruptcy or consumer proposal itself. It’s the non-payment of the debts that negatively affects your credit rating.
  2. Most people who go bankrupt or do a consumer proposal have already fallen behind in payments and their credit rating is already diminished.
  3. One thing for sure: the only way to restore your credit rating is by taking care of the immediate problem- and thats where the bankrupt or consumer proposal does the job.
  4.  Think of a bankruptcy or a consumer proposal as the solution, not the problem.

Should you still feel uneasy about your debt and losing your assets, it’s definitely worth it to give a Licensed Insolvency Trustee a call or a visit so that they can give you all the information you will need to make this important decision and also to alleviate any worry and stress you may have.

There is no cost for your initial meeting and we will explain all of your options to you. We can meet with you during business hours or book after hours appointments if that is more convenient. Richard Killen and Associates is a Licensed Insolvency Trustee in bankruptcy Scarborough and have 10 locations across the Greater Toronto Area. Call us at (416) 285-9511

Contact Richard Killen
FREE No Commitment Consultation

Contact us now for a fresh start!

“Serving Toronto & the GTA for over 25 years.”



    cup half full book

    question and answer

    Recent Blog Posts

    About Richard Killen & Associates

    Since 1992, Richard Killen & Associates, a Licensed Insolvency Trustee, have helped thousands of people resolve their financial problems. With 25 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.

    Serving the GTA for 25 years