Free Consultation

Consumer Proposal purged from credit file

Can you please clarify when a fully completed consumer proposal is cleared off a credit file at Equifax and TransUnion ? I’ve done my own research because I want to apply for credit soon and have found conflicting information. Some websites report that a consumer proposal is cleared off 3 years from the date of completion or 6 years after the filing, whichever comes first. So if I filed my 5 year CP in August 2005 and fully completed and paid it in August 2010, does it get removed from my credit report in August 2011 or August 2013 ? Thanks.

Posted from: British Columbia

One Response to “Consumer Proposal purged from credit file”

Avatar photo
Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The R7 that is associated with a consumer proposal is there for 3 years from the date of completion. This is the date that you have paid the propsoal in full and received your Certificate of Completion that is issued by your trustee. So if you completed the consumer proposal in 2010 then it will be removed in 2013.