If you are looking at filing a consumer proposal, there is already a good chance your credit is already not in the best shape, or you are anticipating that it’s not going to be. A consumer proposal does effect your credit – but certainly not forever. “You will never get credit again” is a misconception that is reinforced by creditors and collections agencies. A consumer proposal stays on your credit report for 3 years from its completion, or 6 years after you file – whichever comes sooner.