Bankruptcy Question & Answer Forum - Canada

Author:		Kearney
Date:		August 4, 2005
Question:		Let's say that my proposal is paid off, and I have a $500 limit credit card that gets paid off every month.... does that help me out with my credit rating even though it recorded for 3 years after? And what happens to my rating after the 3 years? Does it start all over again?
From:		Bruce, Alger & Associates Inc.
Date:		August 5, 2005
Answer:		Any time you meet the terms of a credit arrangement it can help your credit rating. As your proposal was finished over 3 years ago, the credit rating agency will no longer report that you filed a proposal. Bruce Alger phone: (403) 296-2970 balger@alger.ca