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What is a consumer proposal? Credit report terms explained
a consumer proposal explained in plain language for Canadians: what it means on your Equifax or TransUnion report and what you can do.
What a consumer proposal means
A consumer proposal is a legal deal, made through a Licensed Insolvency Trustee, to repay part of your unsecured debts. It shows on your credit report for a set time after it is completed. Accounts included in it should show as included, not as unpaid collections.
General information only, not legal advice. Laws change; check the current rules for your situation.