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Credit Score/Credit Reports Credit Report Articles How Long Do Negative Items Stay on Your Credit Report?
Credit Score/Credit Reports Credit Report Articles How Long Do Negative Items Stay on Your Credit Report?
| How Long Do Negative Items Stay on Your Credit Report? |
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| Written by Administrator | |||
| Saturday, 19 July 2008 10:11 | |||
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Negative information generally can be reported for seven years: Delinquencies: Payments made from 30 to 180 days after the due dates are considered delinquent. A record of this delinquency will remain on your credit report for seven years from the date of the missed payment. Collection accounts: If you fail to pay your bill for three to six months, the credit grantor may decide to turn the account over to a collection agency. These collection accounts remain on your credit report seven years from the date of the initial missed payment that led to the collection. When a collection account is paid in full, it will be marked “paid collection” on the credit report. It’s important to remember that the collection account will remain on your report even if you later pay the account in full. Charge-offs: These accounts remain on your credit report for seven years from the date of the initial missed payment that led to the chargeoff, even if payments are later made on the charged-off account. Closed accounts: Accounts no longer available for further use are considered closed. They may or may not have a zero balance. Closed accounts without a balance will remain on your credit report for seven years from the date they were reported closed, whether closed by the creditor or by you. Closed accounts with a balance will remain on your credit report for seven years after you make your final payment. Lost credit cards: When you report a lost credit card, the credit grantor will close your account. If there are no delinquencies, the account will continue to appear on your credit report for two years from the date the card was reported lost. If there were delinquencies before the card was lost, the account will continue to appear on your credit report for seven years from the delinquency. Bankruptcies: Chapters 7, 11, and 12 remain on your credit report for 10 years from the filing date. Chapter 13 remains seven years from the filing date. Accounts included in the bankruptcy will remain seven years from the date they were reported as included in the bankruptcy. These time frames apply even if the bankruptcy was dismissed or satisfied. Child support judgments: These remain on your credit report seven years from the date the judgment was filed. Civil and small claim judgments: These remain on your credit report seven years from the date the judgment was filed. City, county, state, and federal tax liens: These remain on your credit report seven years from the filing date of the lien. Inquiries: All inquiries remain on your credit report a minimum of one year from the date the inquiry was made.
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| Last Updated ( Saturday, 19 July 2008 10:13 ) |