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.
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 →
Every calculator here is built on published Canadian government rules and lender methodology, and was last checked for accuracy on August 1, 2026 — the arithmetic re-verified and every page re-read on screen. Rates and thresholds change — we confirm the current numbers for your file before you rely on them.