April 5th, 2012 by Questions
Is it wise to go into a consumer proposal to stop ONE garnishment when all the other creditors on the credit bureau file are not calling anymore and they are waaay over the statute of limitation so they can not sue anyway…I was told ALL the creditors on the file had to be included. Is this true?
What would happen to these older debts that normally would just fall off in 2 or 3 years. Would a proposal restart the clock on the credit report? How does that work?
I keep reading that the proposal stays on for 3 years after you finish paying? But my debt would have been gone off the report BEFORE THAT…wouldn’t that hurt my rating longer?
And what happens if a creditor didn’t bother to report anything on the credit report of a spouse that had a joint debt that was in arrears.. but this spouse was not filing a proposal while the other spouse was. Could the creditor start to report to the credit bureau of the spouse that was not affected if the other spouse did a consumer proposal?
Posted from: Alberta