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2nd time consumer proposal

My husband and I filed for a consumer proposal once before and now with job loss and lack of being able to find work we are finding ourselves in the same position again. My question is…is it harder to get your credit back the 2nd time filing a proposal? Or will it work the same as the first time?

Posted from: Ontario

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One Response to “2nd time consumer proposal”

A licensed trustee said...

If you check on the equifax and Trans Union websites (the two largest credit reporting agencies in Canada) you’ll find that they don’t differentiate between 1, 2 or 3 proposals. They are allreported the same way – once you have completed your proposal the fact that you filed will appear for 3 additional years on your report.

There aren’t that many people that have filed multiple proposals (yet) so these policies may change in the future, but for now, it shoudl be the same as the first time you filed…