Bankruptcy & Proposal Loans Toronto & GTA

Bankruptcy and Proposal Loans from Prudent Financial

Bankruptcy & After Proposal Loans Lenders

If you live in Toronto, the GTA and Ontario, you can get a fast same day loan whatever stage of bankruptcy you’re in: after bankruptcy, during bankruptcy and even at the beginning of a bankruptcy. As well, we loan to people in a discharged and undischarged consumer proposal.  Why wait 6 years for a discharge to start rehabilitating your credit!  If you have equity in your home or a paid off vehicle we will do our best to provide approval in minutes.

Proposals are different. You can get a same day loan after a proposal. However, during a proposal and at the beginning, Prudent requires the collateral of a paid-off car 6 years or newer.  Note: Prudent may pay off proposals depending on how much is owing.


Why come to Prudent?

  • In 1984, Prudent was the first in Ontario to loan to people who were bankrupt.
  • Prudent is one of the most experienced  lenders in Toronto and the GTA lending to people with bankruptcies or proposals. We go further than our competitors in our range of helpful loan services.
  • Having an emergency? Prevent costly NSF charges! Prudent will hold your payment free of charge up to 2 weeks if you call 2-3 business days before the payment date.
  • Prudent reports all your loan payments to the credit bureau which is absolutely essential to rehabilitating your credit score after a bad credit history.
  • Prudent uses the most informed, experienced financial resources to provide our clients with tips and advice on how to become a smarter manager of your finances.


Basic criteria for a Prudent loan. Please note that all loans are subject to approval.

      Income Criteria:

  • Full time employment – 6 months min. (based on previous history of consistent employment ) – in a workplace of 10 people or more.
  • Computerized pay stub showing all deductions.
  • Earning $18/hr. minimum and/or $38,000 annually.
  • Self-employed? Call our loan officers for more info at 416-223-9300 or 1-888-852-7647

Credit History: 

  • R9’s, past collections are OK if resolved through counselling, discharged/undischarged bankruptcy or consumer proposal.
  • If you have no credit or current or past debts — you would need to consult with one of our loan specialists for a loan approval as it will depend on your individual situation.


We strive to have the lowest rates and we need that little extra security to do so.  A car or similar value item for collateral is required for our personal loans, but you may still be eligible for one of our other credit rebuilding products.

If you don’t meet any of the above criteria you may still be eligible , if you have a paid off vehicle 6 years or newer.

For more important info on bankruptcy and consumer proposals, visit our FAQ’s.




As much as we want to provide lending to everyone who applies, we do have criteria that we have to abide by in order to stay in business.  Our lending formula basically takes into account your monthly income (plus assets) against your monthly unsecured debt (including car loans) and other expenses. If the ratio is beyond what we feel is realistic, we must decline the loan. Prudent has been lending and building relationships since 1984 and we have a long record of historical accuracy for realistic debt to loan ratios.  Unfortunately, we can’t help everyone. But we very much appreciate your considering us and giving us the opportunity to compete for your business.– Jill Stern, Sr. Loan Manager, Prudent Financial Services Inc.


Prudent Financial Services

Business Hours

Monday to Friday
9am - 5pm

9am - 1pm


Bankruptcy & Proposal Loans Toronto & GTA

Serving the GTA since 1984

North York