Canadians, your laws are a bit tricky, as you seem to have no federal guidelines, but leave it up to the individual provinces instead. The following chart comes from the Financial Consumer Agency of Canada and shows the reporting periods followed by TransUnion and Equifax by province.
Please make note of the fact that each Credit Reporting Agency seems to have somewhat different guidelines and defintions on reporting periods.
| TransUnion | BC | AB | SK | MB | ON | QC | NB | NS | PEI | NL | Terr. |
| (Years) | |||||||||||
| Credit transactions (trades) (from the date of last activity or the date opened) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Judgments (from the reporting date) |
6 | 6 | 6 | 6 | 7 | 7 | 7 | 6 | 10 | 7 | 6 |
| Collections (from the reporting date) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Secured loans (registered items) (from the date opened) |
5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Bankruptcy (from the discharge or reporting date) |
6 | 6 | 6 | 6 | 7 | 7 | 7 | 6 | 7 | 7 | 6 |
| Registered consumer proposal, Orderly payment of debts (from the date satisfied or reported, whichever comes first) |
3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Credit counseling (from the date satisfied or reported, whichever comes first) |
2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| BC | AB | SK | MB | ON | QC | NB | NS | PEI | NL | Terr. | |
| Equifax | BC | AB | SK | MB | ON | QC | NB | NS | PEI | NL | Terr. |
| (Years) | |||||||||||
| Credit transactions (trades) (from the date of last activity) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Judgments (from the date satisfied or deposit) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 to 10 | 6 | 6 |
| Collection (from the date of last activity) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Secured loans (registered items) (from the filing date) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Bankruptcy (from the discharge date) |
6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Registered consumer proposal, orderly payment of debts (from the date paid) |
3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Credit counseling (from the date paid) |
3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| BC | AB | SK | MB | ON | QC | NB | NS | PEI | NL | Terr. | |
OMG. PANIC ATTACK FORTHCOMING!!
You've obtained your credit report and read through it, noting what items can be disputed, etc, so you may be feeling discouraged or, as it was in my case, COMPLETELY PANICKED. Stop for a second. Take a deep breath. DON'T GIVE UP HOPE YET! The next step will walk you through disputing the entries on your report. It CAN be done. Just remember to be patient. We didn't get ourselves into this mess in a day, so it will take time to straighten it all back out. BUT. It can be done. And that's the most important thing!So continue on to Step Three: Disputing Entries on Your Credit Report and remember, you are not alone. I'm with you every step of the way!
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