Credit Repair and Consumer Proposal — Really Need Some Help

Question: I have a consumer proposal which I am half way through paying off. I got a copy of my credit bureau because I am trying to qualify for a mortgage. When I pulled my bureau I noticed that the mortgage company had hit my bureau very heavily and it dropped my score a lot. I also noticed that two of the creditors that are included in my proposal are on my bureau but no indication is there stating that the accounts are being paid off.

If these two creditors are included in the consumer proposal and if they are to stay on my bureau should they not at least say that they are being paid?

What can I do about the hits to my bureau from the mortgage company? Should the trustee for my consumer proposal be the one to report to equifax about the two creditors and make the admendments?

I don’t know if I am suppose to go to the creditors or through the trustee to get these items fixed. I sent in paperwork to Equifax months ago and nothing has changed.

Can you help me … I am sure I am not the ony one with this problem.

How Your Consumer Proposal Appears On Your Credit Report

Our advice to anyone who is currently in a consumer proposal or a bankruptcy is always to deal directly with your trustee.  Only they are fully aware of your circumstances.  On this money problems web site we can only give you generic answers, that may not match exactly with your situation, since we don’t know all of the facts.

Here is the generic answer:  Your trustee reports your consumer proposal to the Office of the Superintendent of Bankruptcy, and they in turn report it to Equifax and Trans Union.  Each individual creditor also reports to the credit reporting agencies.   It would appear that the creditors have not accurately reported the proposal.

We suggest the following approach:

First, contact each creditor and request that they update your credit report to show that their debt is included in your proposal.

Second, contact both credit bureaus again and ask them to correct the information.

Finally, talk to the mortgage company and ask them to notify the credit bureaus that your credit report is incorrect.

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