July 5th, 2011 by Questions

Does a debt management plan affect your credit rating?

Posted from: Ontario


One Response to “Mr.G”

, 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.

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