How Long Does Bankruptcy Stay On A Credit Report

2010-04-06

Kelly, The general rule in Canada is that any fact stays on a person's credit history for six years. So, assuming this was your first bankruptcy, it will be one your credit history for six years from the date you received your discharge. People who do a proposal will find that it is removed after three years (from the proposal completion date). A second, or subsequent, bankruptcy stays on a person's credit history for 14 years. However, you will find that what facts are on your credit history AFTER the date you filed your bankruptcy are way more important than the fact of the bankruptcy, particularly as time passes. If you have made your car payments, obtained and used a secured credit card, etc. your credit rating will have improved, notwithstanding the bankruptcy on your history. There are two large credit bureaus in Canada, Equifax and Transunion. Both have websites that explain all of the above in greater detail. I should also mention that you are, under Saskatchewan law, entitled to receive a copy of your credit history free once a year and if you search on those websites you will find the form to submit to do that. Ian Schofield MNP Regina 306-790-7904

Latest Blog Posts

2025-08-14

How to budget for summer vacation

Marianne Steele-MacSween

Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.

Read More

2025-08-05

How to budget when you’re unemployed

Lindsay Burchill

Bankruptcy Consumer Proposal

Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.

  • First steps to take when you become unemployed
  • Managing your expenses
  • Seeking professional help

Read More

2025-08-04

How to Deal with Unexpected Medical Expenses

Nicole Polak

Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.

Read More

Consultation icon