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

How long bankruptcy stays on your credit report in Manitoba will depend on the credit bureau that is reporting. Generally bankruptcy will only appear on your credit report for about six years.

In Manitoba there are two major credit bureaus.

Equifax is the largest credit bureau. Equifax will keep a record of a bankruptcy on your credit report for six years from the date of discharge. A bankruptcy will remain on your credit report for 14 years if you go bankrupt for a second time. A proposal is removed from your credit report three years after the final payment. You can find more detailed information at
http://www.equifax.com/EFX_Canada/consumer_information_centre/faqs_e.html#ques12

Trans Union is the second largest credit bureau in Manitoba. According to their website, bankruptcies remain on your credit file for six to seven years from the date of discharge, or fourteen years from the filing date, depending on provincial legislation. In Manitoba, the legislation typically means six years. Specific information can be found at
http://www.tuscores.ca/content/page.jsp?id=/.../personalfaq.xml&locale=en_CA#6

Residents of Manitoba must realize that filing for bankruptcy will not prevent you from borrowing for six or seven years.

Saving money can change how long bankruptcy stays on your credit report in Manitoba. If you have a steady job, and a down payment or security deposit, it is possible to repair your credit more rapidly. Many people are able to buy a car or a house in less than seven years after their bankruptcy comes to an end.