Canadian Bankruptcy and Proposal History
A complete report detailing bankruptcy and consumer proposal history of one Canadian individual. Including dates, amounts, the name of the bankruptcy trustee who handled or is currently responsible for the process.
Why this matters:
No matter where you are in the cycle of your relationship, knowing a potential or current partner’s financial past and present status with the Canadian government is information you should know. Whether you’re borrowing money to make a purchase with a friend, starting a business with a partner, thinking of moving in with someone you’re dating, sharing a home with a loved one or getting married, you need to know if your potential partner has ever declared bankruptcy, when it was, where they are in the process and if they have had or currently have a consumer proposal. This information is crucial because not only will it predict future financial behavior such as how and when they pay their bills, taxes and mortgage; it will also indicate your buying power and protect your personal credit. It takes years to build financial trust with creditors and minutes to destroy your credit score and borrowing power. Hopefully you’re ahead on this one and know this information before it’s too late.
You need to know if this person has been honest and transparent with you before signing up of committing to anything. Finances is one of the top, if not the top things couples and business partners argue about;, imagine finding out that the person you’re thinking of engaging with was not financially responsible in their past, it could lead to a breakdown of the partnership, a separation and even a divorce. It’s a quick inexpensive check which will give you a good indication of who you’re dealing with and put your mind at ease.
You might be playing catch up and have heard conversations, seen invoices or read letters that are alarming. If finances don’t quite seem right with your partner or you’re planning an exit such as a separation or divorce you need to know where you stand and what your business partner, significant other, wife or husband has been up to financially.
