Credit after completing proposal (after 3 years)

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nishgupta29@gmail.com

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Credit after completing proposal (after 3 years)
« on: October 24, 2017, 10:22:28 AM »
Hi
This forum has proven very much helpful to me.
I am about to file a consumar proposal for me and i have a question in my mind.
After i complete my last payment for the proposal my credit will show R7 rating for next 3 years but after 3 years would my credit report show any other rating or sign that i have filed consumar proposal in the past.?
Please answer, any help would be highly appreciable.

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LT

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Re: Credit after completing proposal (after 3 years)
« Reply #1 on: October 26, 2017, 03:02:26 PM »
From my understanding, after 3 years, the CP should fall off your credit report.  However, I think each creditor can still record the fact that you filed a CP with them. 

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fireguy233

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Re: Credit after completing proposal (after 3 years)
« Reply #2 on: October 28, 2017, 01:46:15 AM »
Hello,

I completed my Consumer Proposal a year ago and have been in constant communication with both Equifax and Transunion. Once you have completed your consumer proposal wait the three years, then all the files that were attached to the consumer proposal are expunged from your credit files. It may take some work to have the Credit file reporting accurately but yes all accounts included in the proposal are to be removed.

I myself am fighting right now however am fighting with a collection agency that has decided to list a collection on my file that was included in my proposal 4 years ago ( wasn't a collection account when proposal was filed). I do however feel that it will soon be expunged as well.

So three years out from completing your proposal you should have pretty good credit.

Except for the one file it was the best move I could have made.

Cheers


 

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