A credit event isn't the end — it's a timeline.
Consumer proposal, bankruptcy, CRA arrears, missed payments, foreclosure: every one of them has a mapped route back to prime lending. Pick what happened and when — get the lanes open today, your dated milestones, and the accelerators most people never hear about.
What happened?
The 2-2-2 rule needs two of them, seasoned and spotless.
Available now — completion in hand plus equity is a fundable file at most B lenders.
- Jul 2027Prime/insured eligible — 2-2-2 rule — In 1 yrInsured approval also needs 2 tradelines of $2,000+ — you have 1. Open the second now so the clock and the credit are ready together.
- Jul 2028R7 purges from Equifax (~3 yrs after completion) — In 2 yrScore typically jumps when the record drops off.
- Two tradelines, $2,000+ each, reporting clean — the most common reason 2-2-2 files fail is one missing tradeline.
- An alt-lender term now can be structured to mature exactly when prime eligibility lands.
Timelines summarize typical lender and insurer policy — they are lender-specific and file-specific, not promises. We map your exact file, free, and put the dates in writing.
- The only Canadian calculator we know of that maps credit-event recovery as DATED milestones — proposal, bankruptcy, CRA arrears, missed payments, foreclosure — not vague 'talk to a professional' advice
- Encodes the 2-2-2 rule the way insurers apply it: clocks run from COMPLETION or DISCHARGE, not filing — and warns you when a missing $2,000 tradeline will waste the waiting
- Shows the accelerator trustees rarely volunteer: paying a proposal out through equity moves completion to today and can land prime eligibility years sooner — quantified in months
- Honest about the hard lanes: foreclosure timelines and bureau purge dates stated plainly, with what alternative lending realistically offers in between
Get your real mortgage approval amount
Calculators give estimates. We give exact numbers — based on your income, credit, and the lender most likely to say yes. Free, no obligation, same-day reply.
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Can I get a mortgage during an active consumer proposal?+
Often, yes — if there's home equity. Select alternative and private lenders fund inside active proposals, typically paying the proposal out in full at closing. That payout is the single biggest accelerator available: completion moves from year five to today, and both the 2-year prime clock and the 3-year bureau purge clock start immediately.
What exactly is the 2-2-2 rule?+
The standard prime/insured re-entry test after a proposal or bankruptcy: 2 years since completion or discharge, 2 re-established tradelines of at least $2,000 each, and no new derogatory credit. The most common failure isn't the time — it's arriving at the 2-year mark with only one tradeline. Open two secured cards early so the clock and the credit mature together.
Do the clocks run from filing or from completion?+
From completion (proposal paid in full) or discharge (bankruptcy) — not from filing. This is why a 5-year proposal paid out on schedule doesn't reach prime until roughly year seven, while the same proposal paid out early through an equity refinance can reach prime in two.
How long does the record stay on my credit bureau?+
A consumer proposal (R7) typically purges about 3 years after completion; a first bankruptcy about 6–7 years after discharge, depending on bureau and province. Scores usually improve meaningfully when the record drops — but you can qualify for prime lending BEFORE the purge under the 2-2-2 rule.
Are these timelines guaranteed?+
No — they summarize typical insurer and lender policy, and every lender applies its own overlays. Strong equity and income can compress timelines; fresh missed payments restart them. We map your specific file against actual lender policies, free, and give you the dates in writing.
Related: What your debts really cost (incl. CRA) → · How we work with insolvency trustees → · Bruised-credit & alternative programs →