List of Things To Do After Consumer Proposal
Have you finished filing the consumer proposal? Congratulations! You have taken the right measures to have the right move from the financial crises in Vancouver. One of the reasons for it to be easy is only about 50% of the creditor’s collection action must have the consumer proposal. Being done with the Consumer Proposal Vancouver, still, there are several other procedures to carry the payment and enjoy the benefits of it completely.
At this point, you are free from any of the obligations to pay the balance of the debts. So, remember that the consumer proposal has been completed and it will still appear as the line on the credit report. Here are lists of things you have to do after the process of a consumer proposal.
Ensure to record the complete credit performance
On completion, the trustee will sign the “Certificate of full performance”. It is the document for proof for all the obligations, and you are officially released from any of the debts that are also included in the Consumer Proposal Surrey. Also, the certificate should be sent to Equifax and TransUnion in Surrey as it is important to see a 40 to 55 point increase in the credit score.
Check the credit report
Once you get the work done, the relationship between you and the trustee may get over. So, it is mandatory to get a complete idea of the proposal. Ask all the queries you have in mind concerning the credit proposal Vancouver and further legal aspects you have to move with. Remember that there are requirements for the legal works and leaving it carelessly may lead to troubles in the later stage.
Do not overspend
This consumer proposal has likely taught lots of financial habits and the strategies to maintain the budget properly. As part of the counseling session, you should probably have to do a detailed review of the income and expense statements after the process. You have built lots of knowledge over the financial move and keep making it in a good way. Try to restrict the thought to overspend and have the right financial goals to move with it.
Have advice for the mortgage, car loan or line of credit
You may have lots of financial dreams as soon as the consumer proposal is over. You can apply them for the new credit like a mortgage for the new home or even look for the car loan. However, ensure that you are spending in the right way, where it will benefit you to make more out of the plan.
Wrapping it up
Thus, you might have now got some idea on how to deal with the financial activities and the crucial things to care for immediately after filling the consumer proposal in Surrey. So, understand the importance of it and ensure you are carrying it in the right way.