Debt Free after Consumer Proposal and Rebuilding Credit

Debt Free after Consumer Proposal and Rebuilding Credit

We love to hear from clients who have successfully completed their consumer proposal and begun the process to rebuild their credit and their financial future. Here’s one response we received about just such a success story:

Chris, Toronto Consumer Proposal Client

Good news, no, great news!

I just made my last payment on Monday and I’m now debt free!

I wanted to reach out and just say thank you, a big THANK YOU! for helping me out. It was fun to go in and chat with you and every time I did it felt like I was getting together with a friend, no joke.

Oh, and I have been using my new credit card to make payments for my phone and internet and paying them off promptly, so we’re rebuilding there.

Thank you Sandra for, yes doing your job, but doing it with such awesomeness! 

Like Chris, many of our clients find they can begin to repair credit immediately after filing a consumer proposal. Here’s how:

  1. Upon filing your monthly payments drop. Because you are settling their debts for less than you owe, your proposal payments are much lower than your debt payments were before filing.
  2. You can, if you choose, apply for a secured credit card while in a proposal and most people are approved.  This allows you to begin rebuilding a new credit history right away.
  3. Once your proposal is complete, you can begin the process of saving money which can help you with a down-payment if you need larger credit in the future.


Similar Posts:

  1. How Long Does It Take To Get My Credit Back After Bankruptcy or Proposal?
  2. The First Step To Credit Rebuilding Is No More Debt
  3. Debt Consolidation vs Bankruptcy
  4. Why Delaying Your Bankruptcy Can Cost You More
  5. Guidance to Get Through the Debt Proposal Process

Get A Personalized Debt Free Plan

Contact A Trustee ›
Debt Free in 30 Podcast with Doug Hoyes

Find an Office Near You

Offices throughout Toronto and Ontario

google logoHoyes, Michalos & Associates Inc.Hoyes, Michalos & Associates Inc.
4.9 Stars - Based on 1171 User Reviews
facebook logoHoyes, Michalos & Associates Inc.Hoyes, Michalos & Associates Inc.
4.8 Stars - Based on 49 User Reviews

SignUp For Our Newsletter

Please enter valid email.

Sign up for our newsletter to get the latest articles, financial tips, giveaways and advice delivered right to your inbox. Privacy Policy