How Long Does Bankrupcy Remain On Your Credit History

Hello, The general rule is that any fact is removed from a person's credit history after six years. Accordingly, a first time bankruptcy disappears from your credit history six years after the bankruptcy is completed (not after it is filed). Since a first time bankruptcy usually takes nine months, people often refer to seven years (nine months plus the six years). The six year rule is actually Ontario law (each province is different) but the national credit bureaus (Equifax and Transunion) follow that rule. You can refer to their web sites for futher information is you wish. Some exceptions to the above: a) a second, or subsequent, bankruptcy will remain on your credit history for 14 years after it is finished; and b) a proposal will only remain on your credit history for three years (again after the proposal is completed). We advise all of our bankrupts to check their credit history at least once a year after the bankruptcy is concluded, to make sure that no errors have occurred, that all creditors included in the bankruptcy are properly so indicated and that their credit rating is improving. You are entitled under Saskatchewan law (and all other provinces, as far as I know) to obtain a copy of your credit history for free once a year. Ian Schofield Meyers Norris Penny Limited Regina, Saskatchewan 306-790-7904