How Long Does Information Stay on Your Credit Report?

Most negative information stays on your credit report for up to six years in Canada.

However, the exact timeline depends on the type of information, your province and whether your report comes from Equifax or TransUnion.

Positive credit history can remain on your report much longer.

KOHO Credit Builder

KOHO Credit Builder helps Canadians establish or improve their credit history through consistent monthly payments, without relying on a traditional credit card.

With KOHO Credit Builder, you can:

• See an average credit score increase of 74 points*

• Get approved without a hard credit check or minimum deposit

• Pay no interest on the line of credit

• Track your credit score and credit report directly in the KOHO app

• Build credit history through monthly payments reported to the credit bureaus

How Long Do Late Payments Stay on Your Credit Report?

Late or missed payments can remain on your credit report for up to six years.

Even if you eventually repay the outstanding balance, the missed payment may remain visible until the applicable reporting period ends.

Making payments on time going forward can help establish a more positive payment history.

How Long Do Collections Stay on Your Credit Report?

Collection accounts generally remain on your credit report for six years from the date of the original account's default.

Paying a collection does not automatically remove its history from your report, although the account should be updated to reflect the payment.

How Long Does Bankruptcy Stay on Your Credit Report?

A first bankruptcy is generally removed six or seven years after discharge, depending on your province and credit bureau.

For TransUnion, the reporting period is seven years in Ontario, Quebec, Prince Edward Island and Newfoundland and Labrador.

If you declare bankruptcy more than once, the information can remain on your report for 14 years.

How Long Does a Consumer Proposal Stay on Your Credit Report?

A consumer proposal is generally removed three years after completion or six years after it was filed, whichever comes first, although credit bureau reporting rules can differ.

Completing your proposal early can therefore help you move toward rebuilding your credit sooner.

How Long Do Credit Inquiries Stay on Your Report?

Hard credit inquiries generally remain on your report for:

• Equifax: Three years

• TransUnion: Six years

Hard inquiries occur when lenders check your credit as part of an application.

Checking your own credit report is considered a soft inquiry and does not affect your credit score.

How Long Does Positive Information Stay on Your Credit Report?

Positive information can remain much longer than negative information.

• Equifax: Closed accounts in good standing can remain for up to 10 years.

• TransUnion: Positive account information can remain for up to 20 years.

A long history of responsible credit use can help lenders understand how you have managed borrowing over time.

Can You Remove Negative Information Early?

You generally cannot remove accurate negative information simply because it hurts your credit score.

However, you can dispute information that is incorrect, outdated or does not belong to you.

For example, you should request a correction if:

• A payment was incorrectly reported as late.

• An account belongs to someone else.

• A debt appears twice.

• Negative information remains beyond the applicable reporting period.

You can dispute errors directly with Equifax or TransUnion for free.

Be cautious of credit repair companies promising to remove accurate negative information before its reporting period expires.

Does Your Credit Score Improve When Negative Information Is Removed?

It may, but improvement is not guaranteed.

Your score depends on the rest of your credit profile, including outstanding balances, payment history and available credit.

You do not need to wait for negative information to disappear before improving your credit habits.

Making payments on time, keeping balances manageable and checking your reports for errors can help you build a stronger credit profile while older information remains on your report.

*Based on users with a starting score of 450 or under and who used all of our credit building tools (i.e. Credit Building, Secured Credit Building) for 12+ months with on time payments. Credit building tools we offer are not a credit repair tool and does not guarantee an improvement in credit score. Credit scores are based on complex models involving a variety of factors. Consistent on-time payments help improve scores and missed or late payments may cause credit scores to decrease. Outcomes may vary among users.