How long does a consumer proposal stay on a credit report?
The FCAC guidance checked for this article gives the earlier of two dates: three years after paying the debts included in the proposal, or six years after signing it. Keep both milestones rather than counting only from the final payment. Check the actual reports and supporting documents if an entry looks inconsistent.
A simple date example
Illustrative year-level example: suppose a proposal is signed in 2026 and the included debts are paid in 2028. Three years after payment is 2031; six years after signing is 2032. The earlier year is 2031. Exact dates and your records matter. This example explains the rule, not a guarantee about when a bureau will process a particular file.
What does the certificate of full performance prove?
The administrator’s Form 57 certifies that the consumer proposal’s provisions have been fully performed. Keep a copy with the proposal documents. It is evidence of completion, not a new-credit approval or an instruction to erase every negative item on a report. If you need a copy or clarification, contact the LIT who administered the proposal.
Check errors without paying for an erasure promise
Review both Equifax and TransUnion reports. FCAC explains that you can dispute errors for free and should gather supporting records. Identify the specific account, date, balance or status you believe is wrong, then contact the bureau and relevant lender. An accurate negative entry is different from an error; paying a “credit repair” service does not make accurate information removable on demand.
- Save a dated copy of the report you reviewed.
- Note the precise entry and the correction you believe is needed.
- Keep supporting completion or payment records.
- Retain the dispute reference and response for follow-up.
Rebuilding starts with a sustainable next payment
Before adding a credit product, make sure the payment and any fees fit your current budget. Ask what the product reports, to which bureau, and what it costs if you do not use it. Do not confuse being offered a product with evidence it is the best next step. No website can promise the number of points your score will gain.
Plan around the application you actually need
If your concern is a future mortgage, vehicle or other credit application, write down the expected date and speak with the relevant provider about its requirements. A credit-report removal rule is not an underwriting policy. Separate the questions: “Is this report accurate?” and “What would this lender need to assess an application?” Neither is answered by a guaranteed-approval advertisement.
Prepare for a conversation
- The proposal signing date and payment-completion records.
- Your certificate of full performance, if issued.
- Current reports from both credit bureaus.
- The specific error or future borrowing question you want to discuss.
You do not need account numbers, a SIN, banking credentials or uploaded documents to start our enquiry.
Will paying a proposal off early instantly fix my credit?
No. Earlier completion may change the date used under the reporting rule, but it does not instantly remove the proposal, erase unrelated entries or guarantee approval for new credit. Confirm completion with the trustee and review the actual bureau records.
Looking for a different kind of help?
Concerned about an inaccurate entry? Choose the report-errors path rather than a new credit product.
Get guidance on a report error