How long will my bankruptcy remain on my credit report?

Credit report: the major credit reporting agencies in Canada are Trans Union and Equifax. Each one of these companies has a credit profile of you. The data they use to create your credit profile comes from the lenders from whom you borrowed money.

How long a bankruptcy will stay on your credit file will vary from one agency to another, and will be subject to provincial jurisdiction as each province has different credit reporting legislation. These are their policies as of this date of writing:

Trans Union

If you are a first time bankrupt filing in Ontario, Quebec, New Brunswick, Prince Edward Island or Newfoundland, your bankruptcy will remain on your credit file for 7 years from the date you are discharged. For all other provinces and the Northwest Territories, your bankruptcy will remain on your credit file for 6 years from the date you are discharged.

If you are filing bankruptcy for a second (or third, fourth) time, your bankruptcy will remain on your credit file for 14 years from the date of discharge of your second (or third, fourth) bankruptcy.

Equifax

Equifax is more secretive about its data retention policies than TransUnion. Our understanding of Equifax’s policy is that if you are a first time bankrupt, your bankruptcy will remain on your credit file for 6 years from the date you are discharged

If you are filing bankruptcy for a second (or third, fourth) time, your bankruptcy will remain on your credit file for 14 years from the date of discharge from your second bankruptcy.