Obtaining credit may be easier for people who file a consumer proposal rather than a bankruptcy.

Question

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Filing a consumer proposal is seen as a better option than filing for bankruptcy by many lenders because it shows an effort to fulfill financial obligations. As a result, obtaining credit may be easier for people who file a consumer proposal rather than a bankruptcy. However, it still depends on the lender's policy and the individual's credit history.

Obtaining Credit May Be Easier for People Who File a Consumer