In Canada, the length if time that information stays on your credit report depends on three factors:

1. The type of information.
2. Where you live.
3. The credit bureau that created the report.

Credit Help

When you are in a situation of financial difficulty, there are many options to consider. For easy-to-understand debt solutions, including bankruptcy, contact an experienced and compassionate agency . Get the help you need to rebuild your financial future. It’s easier than you think.

Positive credit information

Positive credit history information includes things like payments made on time or in full and is generally kept on your credit report:

• up-to 20 years with TransUnion
• up-to 10 years with Equifax

Negative credit information

Negative credit information can include late or missed payments, bad cheques, paid tax liens, or accounts sent to collections, and will stay on your credit report:

• TransUnion: 6 years from the date of first delinquency on the account
• Equifax: 7 years from the date of filing (except PEI where it is 7-10 years)

Bankruptcy

Both Equifax and TransUnion maintain a bankruptcy record on your credit report for a period from the date of your discharge. First-time bankruptcies stay on your credit report stay  as follows:

• TransUnion – 6 years in Alberta, BC, Manitoba, NWT, Nova Scotia, Nunavut, Saskatchewan and Yukon.
• TransUnion – 7 years in New Brunswick, Newfoundland and Labrador, Ontario, PEI and Quebec.
• Equifax – 6 years in all provinces.

Second and further bankruptcies stay on your credit report for 14 years with both Equifax and TransUnion.

Judgments

Judgments are payments made through the courts due to a lawsuit and stay on your credit report as follows:

• TransUnion – 6 years in Alberta, BC, Manitoba, NWT, Nova Scotia, Nunavut, Saskatchewan and Yukon.
• TransUnion – 7 years in New Brunswick, Newfoundland and Labrador, Ontario, and Quebec; and 10 years in PEI.
• Equifax – 6 years in all provinces.

Consumer Proposals

Consumer Proposals stay on your credit report as follows:

• Equifax – for 3 years after you have paid off all your debts in the proposal
• TransUnion – 3 years after you have paid off all your debts in the proposal OR 6 years after you sign the proposal, whichever is sooner

Credit inquiries by lenders and others

Credit inquiries stay on your credit report as follows:

• TransUnion – 6 years from the date the inquiry was made
• Equifax – 3 years from the date the inquiry was made

Credit accounts

Credit accounts include credit cards, lines of credit and some loans, and will stay on your credit report:

• 6 years with TransUnion
• up-to 10 years with Equifax

For more information, contact TransUnion or Equifax.

Get help

A criminal record will affect your ability to get a loan, a mortgage, or a job. To erase your criminal record, learn more at Pardon Partners. It’s easier than you think.

There are many options to consider when you are in a situation of financial difficulty. For easy-to-understand debt solutions on your terms, contact our preferred experts 4Pillars and rebuild your financial future. With 60 locations across Canada, they will help you design a debt repayment plan and guide you with compassionate advice. No judgment. For help, visit 4Pillars or call toll-free 1-844-888-0442 .

								
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