Don’t let your credit rating suffer for years while you slowly pay off your Consumer Proposal. Pay it out in full with the Encore Credit Recovery Loan – and start rehabilitating your credit rating right away.
Start rebuilding your credit rating 5 years sooner.
After your Consumer Proposal is accepted, your credit rating is in pretty bad shape. You can’t begin to rehabilitate it until you pay your Proposal off – 5 years being the standard payment term.
Rehabbing credit takes time. It’s about accessing new lines of credit and making every monthly payment. That establishes a new pattern of credit worthiness. Miss a payment and your credit score takes a big leap in the wrong direction.
Do something about it!
Having a poor credit rating hurts you in many ways:
You pay more for lots of things.