A credit report is a document containing a lot different information about you. The purpose of the report is to give a full picture of your financial situation.

A credit report includes, among other things, the following information:

• Personal information: your name, current address, previous address, date of birth, social insurance number, etc.
  
  
• Credit information: your credit cards, lines of credit, loans and mortgages you may have, any unpaid debts, etc.
  
  
• Banking information: your bank accounts, any cheques you signed that bounced, etc.
  
  
• Public information: any bankruptcies you have declared or court judgments related to your credit, etc.
  
  
• Related information: for example, a note indicating you were the victim of identity theft, or any other information that could explain your report.
  
  
• Information on the individuals or institutions that have consulted your credit report.

Your credit report therefore identifies you, indicates whether you owe money and, most importantly, lets the reader know whether you have a track record of paying off your debts.

Credit bureaus, also known as “credit evaluation agencies”, create and maintain credit reports. Equifax and TransUnion are the primary credit bureaus in Canada. They collect, update, and make available information regarding the state of your personal finances.

The services offered by these credit bureaus are very useful to their clients: credit unions and banks, financing and leasing corporations, credit card companies, service providers and retailers (merchants).

Businesses and banking institutions regularly provide credit bureaus with information about you. Before doing so, however, they must obtain your consent. Often, the contracts you sign with these companies state that, by signing, you are giving your consent

For example, your credit card company can report to a credit bureau the date you received your credit card, how regularly you pay your bill, whether you pay on time and whether you’ve gone over your credit limit. Similarly, the merchant who sold you the home theatre system on credit could inform a credit bureau that you missed your last payment.

However, if your file has been sent to a debt collection agency, businesses and banking institutions with which you do business do not need your permission to record information in your credit report. Similarly, no authorization is needed to record information that is public in your credit report. For example, credit bureaus can consult the public registries in courthouses to see whether lawsuits have been filed or judgments made against you.

The only people who can see your credit report are those to whom you have given permission. Normally, people want to see your credit report when you are trying to get credit (a loan, for example), when someone is trying to get paid money you owe, or when you are trying to rent an apartment or get a job or insurance.

For example, a bank will specifically ask for authorization to do a credit check when you fill out a loan application.

A landlord might also ask to consult your credit report when you apply to rent an apartment.

You are never obliged to let someone see your credit report.

If you are refused goods or services because you did not agree to a credit check you felt was unnecessary, you can file a complaint with the Commission d'accès à l'information.

Yes, you can always consult records containing information about you.

The best way to proceed is to send a written request to the credit bureau. The credit bureau must reply within 30 days of receiving your request.

You can send the credit bureau a written request asking them to make the corrections. Start by calling the credit bureau to find out about its procedure for making corrections. The bureau may ask you to fill out one of their forms and to send it in by mail. It is a good idea to send it by registered mail so you have proof the credit bureau received it.

Within 30 days of receiving your request, the credit bureau must contact the company that reported the information to see if there was an error. If the company insists that the information is correct but you still disagree, you can send a brief explanation to the credit bureau and this explanation will be added to your credit report.

If the credit bureau refuses to make corrections or fails to reply to you within 30 days of receiving your request, you can ask the Commission d'accès à l'information to review the matter. This request is called an application for an “examination of the disagreement”. You must file this application with the Commission within 30 days of the bureau’s refusal to make corrections or the end of the time limit the bureau had to reply.

The Commission will then decide if your request is justified and, if so, can order the credit bureau to make the necessary corrections.

Yes. You must send a written request to the credit bureau asking it to remove the information in question. In your request you should explain your reasons (e.g., you think the reference to a court decision ordering you to pay a certain amount of money is no longer relevant because you have since paid the amount in full), and provide documents in support of your request, if there are any.

Again, if the credit bureau denies your request or fails to reply within 30 days of receiving it, you can apply for an “examination of a disagreement” with the Commission d'accès à l'information. You must file this application within 30 days of the bureau’s refusal of your request or the end of the time limit the bureau had to reply.

Legally, there is no limit on the time a credit bureau can keep information in your report.

In practice, though, some information is not kept forever. For example, a credit bureau will usually keep information on your credit history for 6 years after the last time something was recorded in your credit report. However, some information is kept longer. For example, information about a second bankruptcy could be kept in your report for up to 14 years.