The consumer's proposal would disappear from the credit report after 5 years. Is this 5 years after the end of the 5-year payment period? If so, would it be more advantageous to declare bankruptcy in terms of our credit report, since bankruptcy would disappear 7 years after a shorter period (9 months)?

Here is the information provided by Equifax on this subject (all of which is subject to change):
CONSUMER PROPOSAL: When a consumer proposal is paid, it is removed from the system three (3) years from the date of payment.
BANKLIFT: A bankruptcy is removed from the system six (6) years from the date of discharge if it is a single bankruptcy.
In the case of multiple bankruptcies (where more than one bankruptcy is declared by the consumer), each bankruptcy is kept for a period of fourteen (14) years from the date of discharge of each bankruptcy. All accounts included in a bankruptcy remain on file with the notation "included in bankruptcy" and are removed from the system six (6) years from the date of the last transaction.