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I forgot a creditor

I forgot a creditor in my consumer proposal.

This month it has been the three years since I paid out my proposal and I check my credit reports and a new on has shown up from 2008.

It was a debt of $190.00 from May, 2008 and I filed the consumer proposal in December, 2009.

I am wondering what happens with this forgotten creditor now that I have already completed the proposal and if maybe it will still be binding on them too.

Also, will it leave my credit report in May of 2014 anyway (6 years since the debt was reported).

Please help!!

Posted from: Nova Scotia

One Response to “I forgot a creditor”

A licensed trustee said...

Contact your trustee and ask them to explain your options…

Briefly, the creditor is entitled to the same rate of return as all of your other creditors received. So send them copies of the proposal documents along with a cheque for their fair share of repayment.