Can I improve my credit score during my consumer proposal?

This is great question and one that I get asked quite often. What I see quite commonly is individuals who have filed consumer proposals being approved for credit as soon as 18 months after starting their consumer proposals, although I can’t guarantee those same results as it’s ultimately the decision of whoever is granting credit in order to rebuild or improve your credit score (i.e. credit cards, car loans, etc.). Something that is good to be aware of is that credit grantors considering applications will commonly request some information from your proposal administrator (or trustee) such as the basics like frequency and amount of payments, in addition to consistency of payments and whether there have been NSFs. As a part of the consumer proposal, there are two counselling sessions that must be completed and one of the various topics that is covered in those is credit rebuilding. It would be great idea to talk specifically about what you can do to successfully rebuild your credit during those sessions as your trustee and proposal administrator can customize the information a little more specific to you.