Credit basics
How Long Information Stays on Your Credit Report
Learn how long different types of credit information may remain on Canadian credit reports and why the timeline can vary.
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Credit-report timelines in 30 seconds
There is no single rule that makes everything disappear from a Canadian credit report after the same number of years. The timeline can depend on the information, bureau, province or territory, and circumstances such as bankruptcy history.
Credit event
Reported to bureau
Applicable reporting period
Eventually removed
Important myth
“Everything disappears after 7 years”
That statement is too simplistic. Different information has different retention periods, and some timelines differ by bureau, province, or circumstance.
Current FCAC summary
Verified retention timelines
Reviewed August 2026. These summarize current FCAC guidance and are not a substitute for checking your bureau and province-specific circumstances.
| Information | Current guidance | Important detail |
|---|---|---|
| Late or unpaid credit cards and loans | Up to 6 years | FCAC does not distinguish the bureaus in this summary. |
| Lender credit inquiries | Equifax: 3 years · TransUnion: 6 years | Visibility on a report and scoring impact are separate questions. |
| Judgments | Usually 6 years | TransUnion: 7 years in NL, ON and QC; 10 years in PEI. |
| Debt management plan | 2 years after debts are paid | The clock is tied to finishing payment. |
| Consumer proposal | 3 years after included debts are paid, or 6 years after signing—whichever comes first | FCAC states this rule for both bureaus. |
| First bankruptcy | Usually 6 years after discharge | TransUnion: 7 years after discharge in NL, ON, PEI and QC. |
| Multiple bankruptcies | 14 years | FCAC states bureaus keep repeat-bankruptcy information for this period. |
Good-standing history
What about positive information?
Positive information can remain after an account closes. Current FCAC guidance says Equifax keeps paid-in-full accounts while open and closed accounts for up to 10 years. TransUnion may keep positive account information for up to 20 years, even after closure.
Equifax
Closed positive accounts: up to 10 years.
TransUnion
Positive account information: up to 20 years, even if closed.
Payment history
Late payments and defaulted accounts
FCAC says information about late or unpaid credit cards and loans may remain for up to six years. Paying a debt does not necessarily make prior negative history disappear immediately; payment or settlement may update the account’s status while accurate historical information remains for its applicable period.
A bureau difference
How long do lender inquiries stay?
Equifax
3 years
TransUnion
6 years
These are current FCAC visibility periods for lender inquiries. An inquiry remaining visible does not mean it affects a score by the same amount throughout that entire period.
Collection history
What about collections?
FCAC identifies accounts sent to collection agencies as negative information and gives up to six years as the general example for late or unpaid credit cards and loans. Because the precise start point and treatment can depend on the entry and applicable reporting rules, confirm a particular collection with the bureau rather than assuming a generic “seven-year rule.” This is general education, not debt or legal advice.
Formal and informal arrangements
Debt management plans and consumer proposals
Debt management plan
Credit bureaus remove this information two years after you finish paying the debts.
Consumer proposal
Both bureaus remove it three years after all included debts are paid, or six years after signing—whichever comes first.
Coming Soon
Consumer Proposals Explained
Province and history matter
How long does bankruptcy stay?
Current FCAC guidance says both bureaus usually remove a first bankruptcy six years after discharge. TransUnion uses seven years after discharge in Newfoundland and Labrador, Ontario, Prince Edward Island, and Quebec. If a person declares bankruptcy more than once, bureaus keep the information for 14 years.
Status is not deletion
Does paying the debt remove it immediately?
Generally, not necessarily. Paying or settling may update the reported status, but accurately reported history may remain for the applicable retention period. “Paid” and “deleted” are different outcomes.
Be cautious with promises
Can accurate negative information simply be deleted?
Accurate negative information generally remains as long as governing rules allow. TransUnion states that only inaccurate information may be removed through its dispute investigation and that paying a credit-repair company does not change the investigation’s outcome. Be cautious of promises to erase accurate history simply for a fee.
Accuracy is different
Do not wait for incorrect information to expire
Retention rules apply to correctly reported information. If an entry is inaccurate, use the official dispute process rather than simply waiting. Start with How to Read Your Credit Report and FCAC’s error and fraud guidance.
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Key takeaways
What you should remember
- There is no single universal retention period for everything.
- The timeline depends on the type of information.
- Equifax and TransUnion may use different periods.
- Province and circumstances can matter for bankruptcy and judgments.
- Paying a debt does not necessarily erase its history immediately.
- Dispute incorrect information rather than waiting for it to expire.
Related topics
Keep learning
Sources & last reviewed
Official references
- Last reviewed
- August 2026
- Primary source
- Financial Consumer Agency of Canada