You can't erase the past. Negative records such as bankruptcy
and collection accounts will remain on your credit report for 7-10
years. But with a little work, you can improve your credit even
before these negative records expire.
How to Rebuild Credit
Knowing how to rebuild credit isn't easy, especially if you have no
experience in doing so. Yet, there is reason to be optimistic, for with
the right strategy and approach you can take tangible steps to improve
your credit and do so quicker than you might suspect.
Car loans, as it turns out, are a great way to rebuild your credit.
No doubt there are some pitfalls involved in bad credit car loans in
Canada. However, car loans also mark an opportunity to improve your
credit score. When paid on time, car loans are an opportunity to
rebuild your credit after bankruptcy and thus make future borrowing
Can You Finance a Car with Bad Credit?
If you are wondering if you can finance a car with bad credit in
Canada, worry no longer. All kinds of people have learned how to
rebuild their credit and you can too. Your number one goal when
financing a car with bad credit is that you don't do anything that will
actually worsen your credit score. This means you need to think
carefully about how much you can afford and know that you can make the
payments on your car every month.