I was wondering how long information stays on your credit report? I had a credit issue a while back and it is still showing as a default on the credit report. I live in Canada and I hear that it is 6 years? Will it ever be cleaned for my report? Thanks
Apr 21, 2009
Good question, I am going to refer you to a document found on the Government of Canada, Financial Consumer Agency of Canada website, http://www.fcac-acfc.gc.ca/eng/consumers/CreditLoanDebt/CreditReportsScores/CreditReportsScores-eng.asp. The report is called Understanding Your Credit Report and Credit Score. Go check it out...however, here's a bit of what they say about Correcting Errors.
When you get your credit report, make sure the information in it is correct and up to date. If you have concerns, follow these steps.
1. Contact the credit-reporting agency you dealt with immediately
2. Contact your financial institution immediately
3. Contact any credit companies you may have a relationship with immediately
A side note on the length of time information stays on your report; information is usually removed from your credit report after 6 to 10 years, depending on the laws in the province in which you live.
The report is very detailed and contains informative stuff on protecting and informing Canadian consumers.
ZDog
