When is information removed from my credit report?
Favourable information stays on your report indefinitely. Removal of negative information from your Canadian credit report depends on laws of the province:
Negative information: 6-7 years from the date of the delinquency or last activity. (Including previously negative accounts that have since been closed or paid in full.)
Judgments: 6-10 years from the date filed.
Bankruptcies: 6-7 years from the discharge date or 14 years from the filing date.
Registered items are kept 5 years from the date reported.
Where do they get my information?
Personal identity information on a credit report, like your name, current and former addresses and employer comes from your creditors. For example, when you move, you notify the credit card company, and they notify the credit bureau. Information also comes from public records, and corrections that you may submit directly the bureau.
How can I get an error corrected on my credit report?
The credit bureau does not change information in your credit report unless it is shown to be inaccurate or incomplete. If you dispute something, the credit bureau asks their source to verify the information. If that fails to resolve the question in your favor, you can write a short statement that the credit bureau can add to your file.
Canadian credit bureau telephone and mailing address information. (Corrections cannot be made by email.)
It pays to check your credit report and verify its accuracy on a regular basis...