How long does information stay on a consumer credit report?
Federal law specifies how long negative information may remain on your credit report. To prevent past errors from haunting you forever, most negative information must be erased after seven years. This includes late payments, accounts that the credit grantor turned over to a collection agency and judgments filed against you in court–even if you later paid the account in full. Credit reporting agencies use the date of original delinquency or, in the case of public records, the date of filing to determine when negative information is deleted. Positive information remains on your report indefinitely.
Federal law specifies how long negative information may remain on your credit report. To prevent past errors from haunting you forever, most negative information must be erased after seven years. This includes late payments, accounts that the credit grantor turned over to a collection agency and judgments filed against you in court––even if you later paid the account in full. To be more specific: Collections stay on your credit report for 7 years from the date placed with the collection agency, charge offs for 7 years from the date of last activity, tax liens for 7 years from the date released, and judgments for 7 years from the date filed. All records of Bankruptcy stay on your credit report for ten years from the date filed, regardless of chapter. The accounts in the bankruptcy, although, are still just derogatory accounts that will stay on your credit report for 7 years from the last activity. Inquiries made on your credit history remain on your credit report between one and two yea
