The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
  • Books
  • Categories
  • Coaching
  • Book Lynnette
  • Money Coach University™
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
No Result
View All Result
The Money Coach
No Result
View All Result

How Long Negative Information Can Stay On Your Credit Report

Guest Blogger by Guest Blogger
in Credit Reports
Reading Time: 3 mins read
negative information
16
SHARES
271
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

If you are diligent about monitoring your credit report regularly and take steps to maintain a healthy credit score, you may be wondering how long negative information such as delinquent accounts, judgments, and other adverse information stays on your report.

By law, certain types of information must be removed from your credit files within a certain period of time.

Here is an overview of how long different types of negative information and activities can stay on your credit report:

Bankruptcy

A bankruptcy stays on your credit report for no more than ten years from the date of filing or ten years from the date of discharge.

Lawsuits and Judgments

These can be reported for up to seven years depending on any statute of limitations in your state.

Paid Tax Liens

These can be reported for up to seven years from the date of payment.

Criminal Records

These do have a place on your credit report but can only reported for seven years or until the statute of limitations has expired.

Delinquent Accounts

These can be reported for seven years after the date of the last payment you made before you fell behind.

Accounts Sent to Collections

Accounts that are sent to collections can be reported for up to seven years and an additional 180 days from the day the account became delinquent.

Overdue Child Support

This can also stay on your credit report for up to seven years.

Missed Student Loan Payments

Some student loan accounts that become delinquent can stay on your credit report for more than seven years. For example, if you go into default on a Stafford Loan or a PLUS loan, that negative information can be reported for seven years after the U.S. Department of Education takes over your loan from a guarantee agency. This usually only occurs if you haven’t made payments in years. So, in effect, that negative credit history could be shadowing you for a decade or so. In fact, overdue Perkins Loans will stay on your credit report indefinitely until they are paid off in full.

 

Inquiries from Creditors

The standard time limit for this type of activity is seven years. But in practice, most credit reporting agencies, such as Equifax, Experian and TransUnion, do not report hard inquiries after two years.

Other Adverse Information

If you are applying for credit or insurance in the amount of $150,000 or more, or you are seeking a job that pays $75,000 or more annually, then legally adverse information (such as bankruptcies, collections, etc.) can be reported on your credit report for longer than the usually seven to 10-year time frame. But again, that’s the letter of the law. In reality, the credit bureaus will typically remove all such negative information after seven or 10 years.

Make sure to review your credit report regularly for any mistakes, omissions, or errors that may impact your credit score. If you do find activities reported that took place more than seven years ago, you may need to contact relevant parties to make corrections.

Otherwise, you can dispute the mistakes online directly with the credit bureaus.

Sabah Karimi

Sabah Karimi is a professional freelance writer and digital copywriter. She writes personal finance, small business, and marketing content for several mainstream websites and has an educational background in business and marketing. She also writes beauty, fitness, travel, and lifestyle content for private clients.Follow her on Twitter @Sabahk

Tags: negative information
Previous Post

Tips for Managing Your Car Loan

Next Post

5 Lies Debt Collectors May Tell You

Guest Blogger

Guest Blogger

Related Posts

Dissatisfied businessman freelancer in glasses upset looking at camera man working inside office building holding phone and looking at camera with complaint

How To Handle Problems With Credit Bureau Reporting Agencies

by AskTheMoneyCoach

When it comes to managing your credit, dealing with credit bureau reporting agencies can be frustrating. The process can be confusing and time-consuming, whether you’re trying to access your credit report, dispute an error, or simply understand how your credit score is calculated. Here are the top 10 complaints people...

Young woman using mobile phone at coffee shop

Here’s How to Get Free Weekly Credit Reports

by Lynnette Khalfani-Cox, The Money Coach

If you want to improve your FICO credit score, you absolutely must monitor your credit files. Fortunately, the credit bureaus Equifax, Experian, and Trans Union are making it easier for you to do just that. See their joint press release below: The three nationwide credit reporting agencies – Equifax® (NYSE:EFX),...

credit rating covid-19

How to Protect Your Credit Rating During COVID-19 VIDEO

by Lynnette Khalfani-Cox, The Money Coach

The CARES Act made significant changes to the Fair Credit Reporting Act. Learn how to protect your credit rating during the COVID-19 pandemic.

report to credit bureaus

Here’s How to Report Rent Payments to the Credit Bureaus

by Lynnette Khalfani-Cox, The Money Coach

Q: I carried a mortgage on a property I rented out and I would like to report rent payments to the credit reporting agency. How can I do this? A:  Thanks for reaching out and for your question about reporting a mortgage to a credit bureau. In order to do...

Equifax Data Breach

Credit Freeze Explained and How to Protect Your Credit

by Lynnette Khalfani-Cox, The Money Coach

After the Equifax data breach where thieves stole the Social Security numbers and personal info of 143 million Americans, many people are considering credit freezes to lock down their credit reports. But some folks ask: "Why should I have to PAY for a credit freeze just because Equifax got hacked?...

ex won't pay bill

When an Ex Won’t Pay a Bill that Hurts Your Credit

by Lynnette Khalfani-Cox, The Money Coach

Q: A woman recently reached out to me, explaining that she was in the middle of a divorce, and that her spouse wasn’t paying a debt he agreed to pay – namely, the couple’s timeshare bill. She was making all of her required payments, but the husband wasn’t, and now...

remove tax lien from credit report

Steps to Get a Tax Lien Removed From Your Credit Reports

by Lynnette Khalfani-Cox, The Money Coach

Having a tax lien on your credit report can weigh down your credit score, and can even make it tougher – if not impossible – to do things like sell or refinance a property, or get a loan. After all, a federal tax lien is viewed as a severe credit...

Load More

Popular Posts

  • Car repair

    What to Do If You Can’t Afford a Car Repair Bill

    1529 shares
    Share 612 Tweet 382
  • What to Do if Your Spouse Stole Money From You

    1311 shares
    Share 524 Tweet 328
  • What to Do If You Can’t Afford to Leave Your Spouse

    1276 shares
    Share 510 Tweet 319
  • Here’s Why I Pay My Kids For Good Grades (And Maybe You Should Too)

    1131 shares
    Share 452 Tweet 283
  • What Do All Those Strange Codes In My Credit Report Mean?

    901 shares
    Share 360 Tweet 225
  • Which Credit Report is More Important: Equifax, Experian or TransUnion?

    869 shares
    Share 348 Tweet 217
  • Do This Now If Your Wages Were Not Reported

    855 shares
    Share 342 Tweet 214

Categories

  • Bankruptcy
  • Budgeting
  • Building Wealth
  • Careers
  • Couples and Money
  • Coupons and Deals
  • Covid-19
  • Covid-19 Video
  • Credit Cards
  • Credit Reports
  • Credit Scores
  • Crypto
  • Debt
  • Entrepreneurship
  • Family Finances
  • Featured
  • Identity Theft
  • Insurance
  • Investing
  • Loans
  • Paying for College
  • Personal Finance
  • Press Releases
  • Real Estate
  • Retirement
  • Saving Money
  • Scams
  • Student Loans
  • Taxes
  • Uncategorized

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

RSS / Sitemap /Submit an Article / Privacy Policy / LynnetteKhalfaniCox.com

No Result
View All Result
  • Books
  • Categories
  • Contact Lynnette
  • Get Coaching
  • Book Lynnette
  • Money Coach University™
  • Home
  • Subscribe to Newsletter
  • Submit an Article

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist