Manitoba, MB Credit Bureaus. MB Free Credit Report.

Credit Bureaus keep a record of a bankruptcy on file for 6 years after the date of the discharge. Proposal are kept on file for 3 years after the proposal is completed.

Get your Free Credit Report: Application Form

Purchase your credit report online for $15.50

Credit reporting agencies or credit bureaus, collect information about consumers' financial affairs and sell that information to their business members, such as credit grantors, employers and insurance companies. The credit bureaus charge annual fees as well as a fee for each credit report requested by members.

In Canada, there are three major credit bureaus: Equifax Canada, NCB Inc. and TransUnion Canada

Credit Bureau Tip

The consumer has a right to place a 100 word statement (50 recommended) on the credit bureau file, to be given to anyone who obtains a future report.

The nine point scale to rate your credit worthiness is as follows:

R0    Too new to rate; approved but not used.
R1     Pays (or paid) within 30 days of billing; pays account as agreed.
R2     Pays (or paid) in more than 30 days, but not more than 60 days, or one payment past due.
R3     Pays (or paid) in more than 60 days, but not more than 90 days, or two payments past due.
R4     Pays (or paid) in more than 90 days, but not more than 120 days, or three or more payments   past due.
R5     Account is at least 120 days overdue, but is not yet rated 9.
R6    (Code 6 does not exist.)
R7     Making regular payments under a consolidation order or similar arrangement.
R8     Repossession (indicate if it is a voluntary return of merchandise by the consumer).
R9     Bad debt; placed for collection; skip.

The FICO® score

The FICO® score, developed by Fair, Isaac (the pioneer in credit scoring) is a number between 300 and 850 that lenders use to determine your credit rating. A FICO® score is a snapshot of your credit rating at a particular point in time. The higher your credit score the more likely you are to be approved for loans and receive favorable rates.

The Credit Bureau's policy regarding bankruptcy information is:

Purging Files
The data included in the bankruptcy will be purged six years from date of last activity.

Bankruptcy Discharge
There is no change to data already appearing on the file following the posting of a bankruptcy or a discharge.

Listing Balances of Debts
The data that the credit grantor provides is on tape. The Credit Bureau records the balance shown by the credit grantor.

Reporting Standards
Credit Bureaus share information within a system known as the National Equifax Network. The network observes strict standards governing reporting of adverse information and purging of credit reporting records. The credit bureau must investigate and use its best efforts to confirm disputed negative information. A consumer has a right to full disclosure of the content and the source of any information on his or her file. The Registrar of Credit Reporting Agencies recognizes that all complainants consider their issues to be very serious. For that reason the Credit Reporting Branch insists that credit reporting agencies and creditors provide prompt and complete reports to the consumer about adverse credit information.

A comprehensive explanation from Financial Consumer Agency of Canada