Consumer Proposal Creditor still reporting
I went through a consumer proposal 2 years ago.
One of my creditors has not stopped reporting even though I have disputed it through Equifax and even had the Trustee deal with it. Should I fight it with equifax or wait until the proposal is fully paid? Thanks
Their response was :
Though we acknowledge that the debtor has filed a Consumer Proposal, We have no legal obligation to report “written off”, “Included in Proposal” or “closed” until we have received a Certificate of Full Performance from your office, as far too many proposal’s end up as Deemed Annulled.
We don’t collect anything further once they’ve entered into the proposal, but it will continue to show payments not made to Loan Away, due to, they are not made to Loan Away directly for us to report.
Therefore, we will continue with our policy, for all proposal’s, by not reporting but leaving our account open until such time as a Full Performance Certificate has been sent to our office and a final dividend has been obtained.
This is a common procedure with Loan Away.
Technically speaking, your debts are not discharged until you’ve paid the consumer proposal in full. You still owe that money to Loan Away.
Once you’ve paid the Trustee your CP payment in full and you’re issued your Certificate of Full Performance, send a copy of the Certificate to Loan Away.