Question: If a person claims bankruptcy in Ontario, is it public knowledge? Can anyone find out about it in Ontario?
Answer: Yes, personal bankruptcy is a legal process, and it is public knowledge. If you declare bankruptcy a note will be placed on your credit report, so any lender than does a credit check on you will know that you have declared bankruptcy. In most cases that note is removed six years after your discharge from bankruptcy.
The Office of the Superintendent of Bankruptcy maintains an insolvency database that records all bankruptcies filed since 1973, so it is a matter of public record.
However, in most cases, once you are discharged from bankruptcy lenders will allow you to repair your credit, so as time passes your prior bankruptcy is less of an issue.
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