How long does a bankruptcy stay on my credit report?
There are two main credit reporting agencies in Canada, Equifax and TransUnion. Each agency has slightly different reporting standards, although both are bound by the provincial standards.
Bankruptcy: A bankruptcy and all the debts addressed by your bankruptcy will be deleted six or seven years (depending on your province) after your discharge. The time is increased to14 years if it is a second bankruptcy.
Consumer Proposals: Three years after your final payment with a consumer proposal, the proposal and all debts included in it will be deleted from your file. If your consumer proposal is not fulfilled, however, this fact remains on your file for six years.
Contact Rumanek & Company Ltd. for more information. Or please fill out the form on the contact us page for additional information. Or if you would like a free evaluation please fill out the evaluation form.