July 5th, 2011 by Questions
Does a debt management plan affect your credit rating?
Posted from: Ontario
July 05, 2011 at 6:24 am, A licensed trustee said:
Debt management plans have the same credit rating as a consumer proposal – R7. You remain at that rating while you are in the plan, when you finish your payments the debts are dropped from your record, but the fact that you filed a debt management plan is noted in the legal section of your report for up to 3 additional years.
Log in to Reply
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.