{"id":58157,"date":"2026-04-14T14:46:53","date_gmt":"2026-04-14T18:46:53","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/what-happens-to-your-credit-score-if-you-declare-bankruptcy\/"},"modified":"2026-04-15T10:29:16","modified_gmt":"2026-04-15T14:29:16","slug":"what-happens-to-your-credit-score-if-you-declare-bankruptcy","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/what-happens-to-your-credit-score-if-you-declare-bankruptcy\/","title":{"rendered":"Bankruptcy and Credit Score Canada: Impact, Timeline and Rebuilding Tips"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\"><p>Bankruptcy causes your credit score to drop to the lowest rating (R9) immediately<\/p><\/li>\n<li class=\"wp-block-rbc-list-item\"><p>Record of bankruptcy stays on your credit report for 6-7 years (first bankruptcy) or 14 year (second bankruptcy)<\/p><\/li>\n<li class=\"wp-block-rbc-list-item\"><p>You can start rebuilding your credit score immediately after filing<\/p><\/li>\n<li class=\"wp-block-rbc-list-item\"><p>Credit score can begin improving within 12-24 months of filing with consistent habits<\/p><\/li>\n<li class=\"wp-block-rbc-list-item\"><p>Alternatives such as consumer proposals (R7) have less impacts on your credit score<\/p><\/li>\n<\/ul>\n<\/div><\/div><br>\n\n\n\n<p>Although the prospect ofrebuilding credit after bankruptcy seems daunting, it is possible. Your credit score will have taken a significant hit, resulting in the lowest possible rating from the credit bureaus. On top of that, bankruptcy remains on a credit report for six to seven years on average. But following and sticking to a few smart financial tips can turn your situation around. Paying your bills regularly and on time, combined with a secured credit card option, can go a long way toward rebuilding your credit score.<br><br>While&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/understanding-the-bankruptcy-process\/\" data-dig-id=\"LP-58157-7daea564\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"declaring bankruptcy\" class=\"rbc-link-format\">declaring bankruptcy<\/a>&nbsp;is not something anyone does lightly, it\u2019s important to consider the following:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n    <li class=\"wp-block-rbc-list-item\">You won\u2019t lose all your assets in a bankruptcy<\/li>\n    <li class=\"wp-block-rbc-list-item\">There are exemptions to what you surrender to your trustee<\/li>\n    <li class=\"wp-block-rbc-list-item\">The government lets you keep assets they feel are reasonable living expenses<\/li>\n    <li class=\"wp-block-rbc-list-item\">Bankruptcy is governed by the Bankruptcy and Insolvency Act (Canada), but while exemptions are set by provincial legislation<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-happens-to-your-credit-score-after-declaring-bankruptcy-in-canada\">What happens to your credit score after declaring bankruptcy in Canada?<\/h2>\n\n\n\n<p>Declaring bankruptcy will lead you to receive the lowest possible credit rating (R9), requiring equal amounts of patience and discipline as you work to develop good budgeting and bill payment habits. Understanding the credit system is your first step towards financial recovery and credit restoration.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credit-score-basics\">Credit score basics<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/good-credit-score\/\" data-dig-id=\"LP-58157-9280e278\" data-dig-label=\"A credit score\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">A credit score<\/a>&nbsp;is a three-digit&nbsp;<strong>number between 300 and 900&nbsp;<\/strong>that helps lenders&nbsp;assess<strong>&nbsp;<\/strong>your credit risk. The higher your score, the better your creditworthiness and likelihood of being able to borrow money. &nbsp;<\/p>\n\n\n\n<p>Credit Score Ranges:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n    <li class=\"wp-block-rbc-list-item\">Excellent (760-900): Best rates and terms available<\/li>\n    <li class=\"wp-block-rbc-list-item\">Good (660-759): Qualifies for most credit products<\/li>\n    <li class=\"wp-block-rbc-list-item\">Fair (560-659): May qualify for credit rebuilding products<\/li>\n    <li class=\"wp-block-rbc-list-item\">Poor (300-559): Limited credit options, higher rates<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-understanding-credit-ratings-r1-r9\">Understanding credit ratings (R1-R9)<\/h3>\n\n\n\n<p id=\"h-\">Credit scores impact your credit rating, which ranges from R1 to R9. R1 is considered perfect credit while R9 indicates bankruptcy and is the lowest possible rating.<\/p>\n\n\n\n<p id=\"h-\">For context, debts in a consumer&nbsp;proposal&nbsp;are coded as R7, meaning you\u2019ve agreed to settle those debts with your creditors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-reporting-period\">Reporting period<\/h3>\n\n\n\n<p>A credit rating reporting period is the timeframe during which financial institutions and creditors report your credit activity to credit bureaus such as Equifax and TransUnion. What\u2019s reported reflects the status of your account(s) at that moment, zeroing in on your payment history, account balances, credit limits, account status and any late payments or defaults.<br><br>Key credit reporting timelines:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n    <li class=\"wp-block-rbc-list-item\"><strong>Positive information<\/strong>: Stays in your credit report for up to 20 years with TransUnion and up to 10 years with Equifax<\/li>\n    <li class=\"wp-block-rbc-list-item\"><strong>Negative information<\/strong>: Typically remains in your credit report for six years (for example, late payments, bankruptcies)<\/li>\n    <li class=\"wp-block-rbc-list-item\"><strong>Collection accounts<\/strong>: Remain in your credit report for six years from the date of first delinquency<\/li>\n    <li class=\"wp-block-rbc-list-item\"><strong>Debt management plans<\/strong>: Removed from your credit report two years after settling debts<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-impact-on-co-signers\">Impact on co-signers<\/h3>\n\n\n\n<p>Declaring bankruptcy will significantly impact your co-signer as they are responsible for 100% of your debt if you\u2019re unable to repay it. Not repaying the debt will negatively impact your co-signer\u2019s credit score and any late payments, collections or legal judgements will appear on their credit report. This makes the co-signer fully liable for the outstanding balance, potentially affecting their ability to secure credit or loans in the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ability-to-get-credit-after-bankruptcy\">Ability to get credit after bankruptcy<\/h3>\n\n\n\n<p>You can get credit after bankruptcy if you can demonstrate that you can stick to a budget and regular repayment schedule.&nbsp; Lenders look for stable income, on-time payments and responsible credit-usage over time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-office-of-the-superintendent-of-bankruptcy-osb\">Office of the Superintendent of Bankruptcy (OSB)<\/h3>\n\n\n\n<p>Once you declare bankruptcy, the&nbsp;<a href=\"https:\/\/ised-isde.canada.ca\/site\/office-superintendent-bankruptcy\/en\" data-dig-id=\"LP-58157-daffa70a\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Office of the Superintendent of Bankruptcy\" class=\"rbc-link-format\">Office of the Superintendent of Bankruptcy<\/a>&nbsp;(OSB) records the filing on your credit report.They willassign an R9rating, which is the lowest possible credit rating.<\/p>\n\n\n\n<p>The OSB oversees the bankruptcy process in Canada and ensures compliance with federal insolvency legislation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-equifax-and-transunion-credit-bureaus\">Equifax and TransUnion credit bureaus<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.equifax.ca\/en\/personal\/\" data-dig-id=\"LP-58157-d3745be6\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Equifax\" class=\"rbc-link-format\">Equifax<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.transunion.ca\/\" data-dig-id=\"LP-58157-d44e379e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"TransUnion\" class=\"rbc-link-format\">TransUnion<\/a>&nbsp;are the two main credit bureaus in Canada. They calculate your credit score based on factors such as whether you pay your bills on time and how much of your available credit you use. The higher your score, the higher your likelihood of qualifying for loans and credit. Both bureaus use slightly different scoring models and timelines for removing bankruptcy information from your credit report.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-long-bankruptcy-stays-on-your-credit-report\">How long bankruptcy stays on your credit report<\/h2>\n\n\n\n<p>If you file for bankruptcy, it will remain on your credit report for anywhere from six to seven years for a first bankruptcy, depending on your province or territory, and 14 years for a second bankruptcy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-equifax-canada-credit-reports\">Equifax Canada credit reports<\/h3>\n\n\n\n<p>Equifax Canada removes a first bankruptcy from your credit report six years after the discharge date, or seven years after the date filed if no discharge date is recorded.<br><br>If you file another bankruptcy, the first reappears on your credit report and both bankruptcies appear for 14 years after their respective discharge dates.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-transunion-canada-credit-reports\">TransUnion Canada credit reports<\/h3>\n\n\n\n<p>TransUnion removes a first bankruptcy from your&nbsp;<strong>credit report<\/strong>&nbsp;six to seven years from discharge, depending on your province or territory.<\/p>\n\n\n\n<p>Provincial and Territorial Bankruptcy TransUnion Reporting Timeline<\/p>\n\n\n\n<div class=\"wp-block-group has-text-reg-font-size is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<table class=\"table-swipe wp-block-rbc-responsive-table-block is-style-table-striped\"><thead><tr><th scope=\"col\"><strong>Six Year Removal<\/strong><\/th><th scope=\"col\"><strong>Seven Year Removal<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Alberta<\/td><td>Newfoundland and Labrador<\/td><\/tr><tr><td>British Columbia<\/td><td>Ontario<\/td><\/tr><tr><td>Manitoba<\/td><td>Prince Edward Island<\/td><\/tr><tr><td>New Brunswick<\/td><td>Quebec<\/td><\/tr><tr><td>Northwest Territories<\/td><td><\/td><\/tr><tr><td>Nova Scotia<\/td><td><\/td><\/tr><tr><td>Nanavut<\/td><td><\/td><\/tr><tr><td>Saskatchewan<\/td><td><\/td><\/tr><tr><td>Yukon<\/td><td><\/td><\/tr><\/tbody><\/table>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>With TransUnion, each second bankruptcy remains on your\u00a0<strong>credit report<\/strong>\u00a0for 14 years regardless of province or territory.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-rebuild-credit-after-bankruptcy\">How to rebuild credit after bankruptcy<\/h2>\n\n\n\n<p>Although rebuilding your credit is challenging, it is possible and can begin as soon as you declare bankruptcy. Credit repair requires consistency, discipline and financial management over time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-create-and-maintain-a-realistic-budget\">Create and maintain a realistic budget<\/h3>\n\n\n\n<p>Start by creating a clear and realistic budget that reflects your income and expenses. Take note of every cost and limit or eliminate the unnecessary ones, ensuring that you have enough to cover your bills on time. A disciplined budget is the foundation of credit restoration and financial recovery.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-pay-bills-on-time\">Pay bills on time<\/h3>\n\n\n\n<p>Pay your bills regularly and on time. This helps show intent and consistency, reassuring your lenders that you understand responsible money management. Payment history is the single most important factor in your credit score calculation, accounting for approximately 35% of your score. Even one missed payment can significantly delay your credit rebuilding journey.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-use-of-secured-credit-cards\">Use of secured credit cards<\/h3>\n\n\n\n<p>Get a secured credit card, which usually requires a cash deposit equal to the card\u2019s credit limit. You could also consider co-signing a credit card with a close friend or family member. Secured cards report to credit bureaus just like traditional cards, helping you establish positive payment history while limiting your risk with the security deposit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credit-builder-loans\">Credit-builder loans<\/h3>\n\n\n\n<p>Apply for a credit-builder loan. You\u2019ll be able to borrow a small amount of money, making regular monthly repayments over a set period. The lender will then report your payments to the credit bureaus, helping you establish a positive payment history. Once repaid, the loan will help you attain a stronger credit profile and demonstrate your ability to manage installment debt responsibly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-monitor-your-credit-regularly\">Monitor your credit regularly<\/h3>\n\n\n\n<p>It\u2019s essential to regularly verify your credit report, especially during the credit-rebuilding process. You can get a free copy of your credit report from Equifax and TransUnion and review them for any errors or discrepancies. Should you notice anything wrong, contact the respective credit bureau to have it corrected.<br><br>Follow these steps to verify your credit report using the RBC mobile app:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n    <li class=\"wp-block-rbc-list-item\">Log in to the RBC mobile app<\/li>\n    <li class=\"wp-block-rbc-list-item\">Navigate to \u2018My Services\u2019<\/li>\n    <li class=\"wp-block-rbc-list-item\">Select \u2018View Your Credit Score\u2019 to access the CreditView dashboard<\/li>\n    <li class=\"wp-block-rbc-list-item\">If asked, accept any necessary agreement to view your TransUnion credit score<\/li>\n    <li class=\"wp-block-rbc-list-item\">Note: you can\u2019t check your full credit report through the RBC app and will need to contact TransUnion or Equifax for a full and comprehensive report<\/li>\n<\/ul><br>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-alternatives-to-bankruptcy\">Alternatives to bankruptcy<\/h2>\n\n\n\n<p>Filing for bankruptcy can seriously impact your finances and ability to meet your lifelong objectives and should be considered as a last resort. There are other debt relief options\u00a0to consider if you\u2019re still able to\u00a0pay back your debts:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-consumer-proposal\">Consumer proposal<\/h3>\n\n\n\n<p>You may be able to work with a Licensed Insolvency Trustee (LIT) to create a&nbsp;consumer proposal,&nbsp;if you owe less than $250,000. Your LIT will work with you and your lenders to repay your debts over time. While this will affect your credit score, it won\u2019t be as drastic as declaring bankruptcy. Take note that a consumer proposal will stay on your credit profile for the length of the agreement, plus a year or two, depending on your home province or territory.<\/p>\n\n\n\n<p>Consumer proposal vs bankruptcy<\/p>\n\n\n\n<div class=\"wp-block-group has-text-reg-font-size is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<table class=\"table-swipe wp-block-rbc-responsive-table-block is-style-table-striped\"><thead><tr><th scope=\"col\"><strong>Factor<\/strong><\/th><th scope=\"col\"><strong>Consumer Proposal<\/strong><\/th><th scope=\"col\"><strong>Bankruptcy<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Credit Rating<\/td><td>R7<\/td><td>R9<\/td><\/tr><tr><td>Duration on Report<\/td><td>3 years after completion<\/td><td>6-7 years (first) \/ 14 years (second)<\/td><\/tr><tr><td>Asset Loss<\/td><td>Keep most assets<\/td><td>May lose non-exempt assets<\/td><\/tr><tr><td>Court Involvement<\/td><td>Minimal<\/td><td>Required<\/td><\/tr><\/tbody><\/table>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-debt-repayment-plans\">Debt repayment plans<\/h3>\n\n\n\n<p>Working with a professional credit counsellor, you can create a plan to consolidate some (but not all) debts. The counsellor will negotiate with your lenders and combine your debts into one more-manageable payment. Additionally, talking to a credit counsellor won\u2019t affect your credit score. Credit counsellors charge various fees, which can change from agency to agency so be sure to ask about costs upfront.<br><br>Non-profit credit counselling is a great first step for anyone looking for options other than bankruptcy. It can provide free financial assessments and personalised debt relief alternatives. Additionally, a credit counselling program can help you course-correct your finances without needing to involve the courts. Canadians may find that working with a certified credit counsellor can help them avoid bankruptcy altogether.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faq\">FAQ<\/h2>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-accordion accordion\" id=\"&quot;accordionSet1\">\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titleb5dd71de\" class=\"collapse-toggle collapsed\" data-target=\"#accordionb5dd71de\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-58157-b5dd71de\" aria-controls=\"accordionb5dd71de\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"Can I get a credit card after bankruptcy?\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>Can I get a credit card after bankruptcy?<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordionb5dd71de\" role=\"region\" aria-labelledby=\"accordion-titleb5dd71de\"><div class=\"collapse-inner\">\n<p>Yes, you\u00a0can explore a few credit card options that may help you start rebuilding your credit after bankruptcy. These include secured credit cards \u2014 usually requiring a cash deposit equal to the credit limit \u2014 which report to credit bureaus just like traditional cards. You can also consider co-signing a credit card with a family member or trusted friend or becoming an authorized user of someone else\u2019s credit card account.Secured cards are often the best starting point as they limit your financial risk while building a positive payment history. Most major Canadian banks offer secured credit card programs designed specifically for credit rebuilding.<\/p>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-title56160e65\" class=\"collapse-toggle collapsed\" data-target=\"#accordion56160e65\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-58157-56160e65\" aria-controls=\"accordion56160e65\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"How long before my score improves?\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>How long before my score improves?<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordion56160e65\" role=\"region\" aria-labelledby=\"accordion-title56160e65\"><div class=\"collapse-inner\">\n<p>Your credit score can begin improving within 12 to 24 months after discharge, depending on how consistently you rebuild credit.<\/p>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titleeb33d022\" class=\"collapse-toggle collapsed\" data-target=\"#accordioneb33d022\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-58157-eb33d022\" aria-controls=\"accordioneb33d022\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"Can I get a mortgage after bankruptcy in Canada?\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>Can I get a mortgage after bankruptcy in Canada?<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordioneb33d022\" role=\"region\" aria-labelledby=\"accordion-titleeb33d022\"><div class=\"collapse-inner\">\n<p>Yes, you can qualify for a mortgage, usually 12 to 24 months after your bankruptcy has been discharged. However, you will likely have to put down a larger down payment and pay higher interest rates. Working with a mortgage specialist who understands post-bankruptcy lending can help you navigate the process and find the best available options.<\/p>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titleb7c6088c\" class=\"collapse-toggle collapsed\" data-target=\"#accordionb7c6088c\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-58157-b7c6088c\" aria-controls=\"accordionb7c6088c\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"What credit score do I start with after bankruptcy?\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>What credit score do I start with after bankruptcy?<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordionb7c6088c\" role=\"region\" aria-labelledby=\"accordion-titleb7c6088c\"><div class=\"collapse-inner\">\n<p>You will likely start with a credit score in the low 500s following bankruptcy, receiving the lowest possible credit rating (R9).\u00a0This places you in the &#8220;poor credit&#8221; category, which significantly limits your access to traditional credit products and loans. However, with consistent credit-building habits you can improve your score over time.<\/p>\n<\/div><\/div><\/div><\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>How declaring bankruptcy affects your credit score, and ways to minimize the 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