When a person declares bankruptcy, the Office of the Superintendent of Bankruptcy notifies the credit bureau. This information stays on your credit bureau report for 7 years. You can start to re-establish your credit by doing the following:

• Inform your banker that you want to re-establish your credit rating.
• Open a savings account and become a regular, consistent saver, even if it's only a small amount.
• Use these common saving techniques:
  1. Pay yourself first (save money as a "bill" you pay to yourself each month);
  2. Take your next raise and save the difference in your paycheque;
  3. Or save 5 % of your regular pay automatically, through a payroll deduction plan;
  4. Take out a small loan using the savings account as collateral, and then pay it back.
• Apply for a secured credit card. Using a secured credit card is a quick way to rebuild your credit rating. For example, Horizon Plus reports your payment history to the credit bureaus each month. As you make regular payments your credit history looks better and better.
• Pay your credit card balances on time.