Most negative information stays on a Canadian credit report for about six years. Positive information can stay much longer, and some items, such as repeat bankruptcies, stay far longer. The exact period depends on the type of information, the credit bureau and, in some cases, your province.
At a glance
| Item | How long it stays |
|---|---|
| Accounts in good standing | Equifax: while open, and up to 10 years after closing. TransUnion: up to 20 years. |
| Late or missed payments on cards and loans | Up to 6 years |
| Lender credit inquiries (hard checks) | Equifax: 3 years. TransUnion: 6 years. |
| Judgments | Usually 6 years. TransUnion: 7 years in Newfoundland and Labrador, Ontario and Quebec, and 10 years in PEI. |
| Debt management plan | 2 years after the debts are fully repaid |
| Consumer proposal | 3 years after all included debts are paid, or 6 years after signing, whichever is first |
| First bankruptcy | Usually 6 years after discharge. TransUnion: 7 years after discharge in Newfoundland and Labrador, Ontario, PEI and Quebec. |
| More than one bankruptcy | 14 years |
When the clock starts
For most negative items, the period is counted from the date of the last activity or the date the account first became delinquent, not from when you finally paid it off. Paying an old collection doesn't restart the clock, and it does update the item to show it's been paid, which lenders view more favourably.
Watch for re-aging. If an old debt is sold to a new collection agency, it shouldn't get a new start date on your report. If it does, dispute it with the bureau.
Impact fades before it disappears
A late payment from five years ago hurts much less than one from last month. Lenders and scoring models weigh recent behaviour most heavily, so steady on-time payments start rebuilding your score well before old items drop off.
Can items be removed early?
Accurate information generally stays for the full period. Inaccurate or outdated information can be removed by disputing it with the bureau, at no cost. Be wary of anyone charging to "erase" accurate items. Some lenders will agree to update a single late payment as a goodwill gesture, but they're not obliged to.
Frequently asked questions
How long does a late payment stay on my credit report in Canada?
Up to six years.
How long does a consumer proposal stay on my credit report?
Three years after you've paid off all the debts included in the proposal, or six years after you signed it, whichever comes first.
How long does a bankruptcy stay on my credit report?
A first bankruptcy usually stays six years after discharge, or seven with TransUnion in some provinces. A second bankruptcy stays for 14 years.
Does paying off a collection remove it?
No, but it updates the status to paid, and it stops the debt from growing. It still drops off on its original schedule.
Sources
- Financial Consumer Agency of Canada, How long information stays on your credit report