• checkbox logo Reduce debt by up to 80%

How Long Does a Consumer Proposal Affect My Credit?

30 January 2024

Get a Free Debt Repayment Plan

Safe, secure & confidential

Consumer Proposals How Long Impact Credit Rating

Dealing with debt can be tough, and it’s okay to feel a bit overwhelmed. If you’re considering a consumer proposal, or have already taken that step, it’s important to understand how it affects your credit.

At Harris & Partners, we’re here to walk you through this journey and arm you with all the information you need to make confident financial decisions. Let’s break down what a consumer proposal means for your credit report, and get you on your way to a stable future.

The Impact on Your Credit Report

When you file a consumer proposal, it shows up in two places on your credit report:

How Long Does it Stay on Your Credit Report?

As of 2019, here’s how the big credit bureaus, TransUnion and Equifax, handle your consumer proposal:

Why Choose a Consumer Proposal?

Deciding to go for a consumer proposal can be a smart move when you’re navigating through tough financial waters. Let’s talk about why it might be a good choice for you:

Take The First Step With Harris & Partners

Dealing with debt is a journey that’s different for everyone. We understand that it’s not easy, and that’s why our Licensed Insolvency Trustees are here to help.

Our team at Harris & Partners offers free, non-judgmental advice to guide you through these challenging times. Feel free to reach out to us for support and advice as you navigate your financial path to recovery. You’re not alone in this – let’s find a debt solution that works for you.