consumer proposals and credit ranking

Question: If I do consumer proposal with my credit cards, what does it do to my credit ranking? and for how long?

Answer: According to Equifax, a consumer proposal remains on your credit report for three years after all of the payments are made, and you would be coded as an R7 (a bankruptcy is an R9).

This entry was posted on Saturday, January 30th, 2010 at 8:36 pm and is filed under consumer proposal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.