How long does information remain on a consumer credit report?
Positive credit information remains on the report forever. But federal law mandates the length of time negative information stays on a credit report, and it’s a right consumers should exercise since negative information has a great impact on a consumer’s ability to obtain credit. By law, most negative information must be deleted after seven years. This information includes Chapter 13 bankruptcy, where partial or full debts are paid in accordance with a payment schedule. It also includes late payments, collections and judgments filed in court—even those accounts paid in full after delinquency. On accounts, the seven-year clock starts ticking on the date of the original credit delinquency. On public records, the filing date is used to define the seven-year date when negative information is erased. Exceptions: In the case of a Chapter 7 or Chapter 11 bankruptcy, information remains with the credit report for 10 years. Credit inquiries about your credit history stay on the report one-two y
