How to Rebuild Your Credit & Get a Loan After Consumer Proposal

When you find yourself unable to pay off your debts, one of the best courses of action you can take is to enter into a consumer proposal. With a consumer proposal part of your debt is forgiven and you get a break on the total remaining amount you owe, which makes on-time payments more manageable. The downside is you take a hit to your credit rating, but with the right strategy in place you can rebuild your credit quickly, either during or immediately after a consumer proposal. In many cases, you can even get a standard loan during a consumer proposal.

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