How long does bankruptcy stay on my credit report in Quebec?

How long bankruptcy stays on your credit report in Quebec will depend on the credit bureau that is reporting. In general, a record of your bankruptcy will remain on your credit report for about six years.

There are two large credit bureaus in Quebec.

The largest credit bureau is Equifax. Equifax keeps a record of a bankruptcy on your credit report for six years from the date of discharge. If you go bankrupt a second time, both bankruptcies will remain on your credit report for 14 years. A proposal is removed from your credit report three years after the last payment. For more detailed information visit http://www.equifax.com/.../faqs_e.html#ques12

The other large credit bureau in Quebec is Trans Union. According to their web site, bankruptcies remain on your credit report for six to seven years from the date of discharge, or fourteen years from the filing date, depending on provincial legislation. In Quebec this will typically mean six years. More information can be found at http://www.tuscores.ca/...ersonalfaq.xml&locale=en_CA#6

Be advised that filing for bankruptcy does not mean you cannot borrow for six or seven years.

Saving money can change how long bankruptcy stays on your credit report in Quebec. If you have a steady job, and a down payment or security deposit, it is possible to repair your credit sooner. Many people are able to buy a car or a house in less than seven years after their bankruptcy finishes. For more information on credit repair, click here.