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Having discharged bankruptcy removed from credit report

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Having discharged bankruptcy removed from credit report

This is a Canadian specific question, maybe someone out there knows if it’s possible to have a discharged bankruptcy removed from a credit report because of what i see in any case unfair delays?

The issue is that I declared bankruptcy in 2013 and because of an opposition for a student loan it’s dragged on for almost 6 years!!

I’m finally getting my discharge on sept 4th, but I’ve already suffered for 6.5 years with this bankruptcy on my file and now I have to wait another 7 years from the date of discharge to have it gone from my credit report! (Equifax Canada keeps not more than 7 ..so a total of almost 13 years for a single bankruptcy..

Has anyone gone through a protracted bankrupt and have any advice (Canadians of course)

Thanks in advance
Cheers
Mike
Message 1 of 4
3 REPLIES 3
Super Contributor

Re: Having discharged bankruptcy removed from credit report

Welcome! Oh wow. That would suck big time. Hope someone chimes in. Good Luck!





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 4
New Visitor

Re: Having discharged bankruptcy removed from credit report

Thanks man..really does suck!..I’ve managed to max out my Equifax score at 680 despite this..
Message 3 of 4
Valued Contributor

Re: Having discharged bankruptcy removed from credit report

You can't get it legally removed despite what any credit repair company tells you. The clock not starting until discharge in Canada is a major downside. The only good news is it might be 6 years instead of 7 depending on what province you are in. I would still consult a lawyer and see if anything can be done with the discharge date. Its at least worth a conversation.

 

https://www.canada.ca/en/financial-consumer-agency/services/credit-reports-score/information-credit-...

 

Bankruptcy

Generally, both Equifax and TransUnion remove a bankruptcy from your credit report 6 years after the date you're discharged.

TransUnion removes a bankruptcy from your credit report 7 years after you're discharged in the following provinces:

  • New Brunswick
  • Newfoundland and Labrador
  • Ontario
  • Prince Edward Island
  • Quebec
Message 4 of 4
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