-In both cases, your credit ratings will be lowered, according to criteria determined by credit bureaus. The bankruptcy mention will remain to your file longer than a consumer proposal, thus having a more important effect.

-You will be able to re-establish your credit with financial institutions after your discharge.

For more information, you may contact the Office of Superintendent of Bankruptcy Canada : http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br01861.html.

Contact us for more details; the first consultation is free.