When you file a bankruptcy or consumer proposal, it will appear on your credit report in two separate places. Understanding where to look — and what matters most — can help avoid confusion when reviewing your report, talking with your credit counsellor or trustee, or speaking with a lender.
1. The Public Records (Legal) Section
Your bankruptcy or consumer proposal is recorded in the public records (sometimes called the legal section) of your credit report.
This section shows:
- The type of proceeding (bankruptcy or consumer proposal)
- The date you filed
- The date you were discharged (bankruptcy) or completed your proposal
This information comes directly from the Office of the Superintendent of Bankruptcy and is the official record of your insolvency.
Lenders should rely primarily on this section to understand:
- What type of proceeding you filed
- When it started
- When it ended
The public record is removed from your credit report after a set period of time, based on the credit bureau’s retention rules, which we outline below.
2. Individual Creditor Accounts
Each creditor included in your bankruptcy or consumer proposal also reports its own account history.
These accounts should be marked as:
- “Included in bankruptcy”, or
- “Included in proposal”
Each creditor reports independently, and this information is generally removed six years after the date of last activity on the account.
The “last activity date” may differ by creditor. For some, it is the date of your last payment; for others, it may be the date you filed your bankruptcy or proposal.
Common Reporting Errors (and What to Do)
Errors are common after insolvency.
For example:
- A debt included in a consumer proposal may be incorrectly marked as “included in bankruptcy”
- Accounts may continue to show late payments after your filing date
- Balances may not be updated promptly
If this happens, do not panic.
The public records section of your credit report always shows the correct legal proceeding. If a lender is unsure whether you filed a bankruptcy or proposal, direct them to review the public records section at the end of your report — not individual creditor listings, which are often reported incorrectly.
If incorrect information remains on your report, it can be corrected through the credit bureau’s dispute process.
See: Correcting Errors on Your Credit Report
When Is a Bankruptcy or Consumer Proposal Removed?
Credit bureaus set their own retention rules, which can change over time. The information below reflects policies published by Equifax and TransUnion, but timing may vary slightly depending on province and individual circumstances.
TransUnion
According to TransUnion:
- A consumer proposal will be removed from your Equifax credit report 3 years after you’ve paid off all the debts according to the proposal, or 6 years from the date it was filed, whichever comes first.
- A first time bankruptcy will be removed from your credit report in Ontario seven (7) years from the date of discharge
- If the consumer declares bankruptcy on more than one occasion, each bankruptcy will report on file for fourteen (14) years from the date of discharge of each bankruptcy
- When a bankruptcy is removed from your file, all accounts reported as included in that bankruptcy will also be removed from your file.
Equifax
According to Equifax:
- A consumer proposal will be removed from your Equifax credit report 3 years after you’ve paid off all the debts according to the proposal, or 6 years from the date it was filed, whichever comes first.
- A bankruptcy automatically purges six (6) years from the date of discharge in the case of a single bankruptcy.
- If a second bankruptcy is filed, then the first re-appears on your Equifax credit report, and both bankruptcies remain for 14 years after the discharge dates.
More information about retention periods for Equifax can be found here .
What Matters Most for Rebuilding
While a bankruptcy or consumer proposal does affect your credit report, it is only one part of your credit history.
Over time, lenders place greater weight on:
- What you have done since filing
- Whether new credit is managed responsibly
- Consistent on-time payments
- Low balances relative to credit limits
See: What Helps and What Hurts When Repairing Credit
Your insolvency is part of your past. What matters most is the new history you build after it.