Debt Options Guide
How Long Debt Stays on Your Credit Report in Canada
Updated
In Canada, most negative items — late payments and collection accounts — stay on your Equifax and TransUnion reports for about six years. A consumer proposal generally drops off three years after you finish paying. A first bankruptcy generally stays six to seven years after discharge, depending on the bureau and province. You can check both reports for free.
Check and dispute errors
- Request your free reports from both Equifax and TransUnion
- Dispute any account that isn't yours or has the wrong balance or dates
- Keep copies of letters and settlement confirmations
Rebuilding
Paying on time, keeping card balances low relative to limits, and using a secured card if needed are the steps FCAC recommends. Utilization is one of the biggest factors you control.
Free tools
Related guides
- Consumer Proposal in Canada: How It WorksHow a consumer proposal works in Canada: who qualifies, the $250,000 limit, the 5-year maximum, the creditor vote, credit impact and what it costs.
- Bankruptcy in Canada: How It WorksHow personal bankruptcy works in Canada: the 9 or 21 month discharge, surplus income, exempt assets, which debts survive and how long it stays on your credit report.
- Statute of Limitations on Debt in CanadaHow long a creditor has to sue you for a debt in each Canadian province, what restarts the clock, and why time-barred debt can still appear on your credit report.
Sources
DebtDefender is an independent information site, not a Licensed Insolvency Trustee or law firm. This guide is general information, not advice for your situation. See our disclaimer.