After Your Consumer Proposal is Completed

What Happens After My Proposal is Over?

Consumer proposals offer those in debt the opportunity to address the amount they owe to creditors under new terms.

The completion of these proposals is represented by the last payment made per the arrangement.

Proving Completion

Once you issue this final payment, your financial representative administrating the proposal will provide a Certificate of Full Performance.

The document confirms that all aspects of the proposal have been accommodated and that any amounts owing are officially discharged.

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After some time, you will also receive two supplemental financial documents:



You will also receive the Discharge of Administrator paperwork; this officially severes ties with the consumer proposal administrator in charge of the account.

Once all of this is complete, governing authorities receive notice of your updated status and you can proceed with managing your finances with the full benefit of the fresh start.

Rebuilding & Strengthening Credit After a Proposal

Ideally, after the consumer proposal, you are free of debts and the scenarios which breed them.

This enables you to focus on future financial goals such as building savings and planning for retirement.

Credit impacts everything from fiscal opportunities to job opportunities, so by using a consumer proposal to avoid bankruptcy, you can maintain the opportunity to rebuild your credit in a timely fashion.

The next steps in your financial journey entail building credit back to good standing.

There are multiple different opportunities available, with things like secured credit cards offering the chance to safely rebuild your credit status over a period of time.

Through regular, full payment of all forms of credit – including phones, mortgages, and utilities – you get the opportunity to accumulate a good financial profile.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Consumer Proposal Eligibility
How to Amend a Consumer Proposal

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