Anyone have a definitive answer? Statute of Limita

Is this GOVERNMENT STUDENT LOAN Federal or Provincial? If it is Provincial, in which province was it issued and by whom?

Since the student loan was issued, have you made any payments on this loan? If so, to whom? Do not include any income tax or GST rebates withheld.

Once I have this information, I can explain why this information is appearing on your TransUnion Credit Report and does not appear on your Equifax Credit Report.

Johnny wrote:

"There is a credit or consumer reporting law that applies to the credit bureau and how they record and report information. There are provincial laws and I believe there is a federal one as well."

Most Provinces and Territories have consumer reporting legislation but for those Provinces that do not, such as New Brunswick, the Personal Information Protection and Electronic Documents Act ( PIPEDA ), a Federal Act, provides for this void. Some Provinces, such as British Columbia, have passed their own Privacy legislation and where there is a conflict between PIPEDA and a Provincial Privacy Act, the provisions of the Provincial Privacy Act applies.

Johnny wrote:

Each Provincial and Territorial Consumer Reporting Act states the maximum period of time that a credit reporting agency can report "DEROGATORY" information. Each Act is "SILENT" on how long a credit reporting agency can report "NON-DEROGATORY" information. And the Federal Act, PIPEDA , is totally "SILENT" on how long information can be reported whether the information is "DEROGATORY' or 'NON-DEROGATORY' providing it is accurate. As well, each Provincial and Territorial Consumer Reporting Act states the MINIMUM period of time that an inquiry must remain on a Credit Report.

With this background, both TransUnion and Equifax have developed their own reporting POLICIES to comply with the reporting provisions of the various Provincial and Territorial Consumer Reporting Acts.

The policies of Equifax are as follows:

All inquiries, both "hard" and "soft" are purged after three years from the date of the inquiry. Inquiries from collection agencies and debt buyers are shown as "soft" inquiries and are only reported on a Consumer Disclosure Report and not on a Credit Report.

All "Trade" and "Collection" accounts are purged after six years from the "Original Date of Default with the Original Creditor". While Equifax clearly states both on its website and on its Credit Reports and on its Consumer Disclosure Reports that all accounts are purged six years from the "Date of Last Activity", that statement is technically incorrect.

All single Bankrupties are purged six years from the "Date of Discharge". All second and further Bankrupties are purged fourteen years from the "Date of Discharge".

All Consumer Proposals are purged three years from the date the Proposal has been completed. All Orderly Payment of Debts and Credit Counselling are purged two years from the date the program is satisfied.

All Judgments are purged six years from the date of the judgment.

The policies of TransUnion are as follows:

All inquiries, both "hard " and "soft" are purged after six years from the date of the inquiry. Inquiries from collection agencies and debt buyers are shown as "hard" inquiries in contravention of an "Order" issued by Consumer Protection BC. The "Order" was filed in the Supreme Court of British Columbia in early 2012 to which TransUnion refused to comply with the "Order". In response, TransUnion has filed for a Judicial Review of the "Order". No date has been set for the hearing.

All "Trade" accounts that contain "DEROGATORY' information and all "Collection" accounts are purged after six years from the "Original Date of Default with the Original Creditor". All "Trade" accounts that contain "NON-DEROGATORY' information are retained for twenty years before they are purged.

All single Bankruptcies that occurred in Ontario, Quebec, New Brunswick, Prince Edward Island and Newfoundland are purged after seven years from the "Date of Discharge". All other Bankruptcies that occurred in the remaining Provinces and Territories are purged after six years from the "Date of Discharge". All second and further Bankruptcies are purged fourteen years from the "Date of Discharge".

All Consumer Proposals are purged three years from the date the Proposal has been completed. All Orderly Payment of Debts and Credit Counselling are purged two years from the date the program is satisfied.

All judgments issued in Ontario, Quebec, New Brunswick and Newfoundland are purged seven years from the date of the judgment. All judgments issued in Prince Edward Island are purged ten years from the date of the judgment. All judgments issued in the remaining Provinces and Territories are purged six years from the date of the judgment.

I trust this detailed commentary will help clarify the numerous misunderstandings and misconceptions of how the consumer reporting system operates in Canada and provide a "breath of fresh air" to those who seek accurate and detailed information on the reporting policies of both Equifax and TransUnion, the only two credit reporting agencies in Canada.

Footloose

First of all, I would never command an apology from you for making a mistake, which you certainly have done. You are correct though and credit reporting is provincially regulated. I was merely thinking about the FCAC but after looking at their mandate it does not include credit bureaus. My bad for pissing in your pool there Footloose.

Secondly, in reference to my comment about the New Brunswick taking the same as Nova Scotia.. dude, this is what I was told by them. I didn't say I agreed with it.  I am just relaying what I was told man. "From what they say" means "from what they say". Right? If they are incorrect then take it up with the New Brunswick ministry people. You are the ... whatever it is that you are and do who seems to know everything about bankruptcy, credit reporting, and whatever other law you are an expert at.

Now, when a student loan reports "paid as agreed" with a zero balance, and a positive narrative, that can ONLY be a government loan. When I say government guaranteed, I mean CSL1, 3, or Federal Direct. I did not say anything about the first or second generation loans program you. The government guaranteed loan is just that - a guaranteed loan. A debt owed to the government.

Don't attack me. If I make an error simply say" Johnny, you are incorrect about ...". This is a civilized arena here and not a courtroom circus and no one is on trial. Bahave accordingly.