How long do negative items stay on your credit report?

Question

Okay, I've notice that many people are giving incorrect answers on this issue...including many "Top Contributor" old timers.

Negative items like loan or credit card defaults stay on your credit report for 7 years (technically 7.5 years) starting from THE ORIGINAL DEFAULT DATE or date of first delinquency that led to the default...NOT the date of the last payment on the account.

Don't confuse this with the statute of limitations, which is a completely separate time period which can be restarted by payments on the account.

bdancer222 · Accepted Answer

Yep, I've notices a couple "top contributors" consistently get it wrong ... including Calvin.  Don't care what Calvin quotes from Experian's site, all three credit bureaus must comply with the Fair Credit Reporting Act (FCRA) which very specifically says 7-1/2 years from the first date of deficiency (default) -- 7 years from charge off, but the account has to be charged off 6 months from the first deficiency.

Now it is entirely possible that a credit bureau might remove it a little sooner, but 7-1/2 years is the max.  

Also, this is individual negative items, not public records items like judgments and liens.  These have different rules governing the reporting period and the start date.

Calvin C · Answer

I am not checking everyones site but

Experian

Trade data: 36 months 
Bankruptcies: nine years and nine months 
Judgments: six years and nine months 
Tax liens: six years and nine months 
Uniform Commercial Code filings: five years 
Collections: six years and nine months 
Bank, government and leasing data: 36 months 
 
I am sure the others somewhere on their site explain more

Generally, if a delinquent account is charged-off, the charge-off record appears on your credit report for up to 7 years. From Transunion.  There is a huge difference between charged off and no activity then activity such as payments.

As a reporter to CRB I can tell you for a fact it is 7 years from last activity because I deal with it every month.   The extra 6 months you are telling people is basically laziness of the CRB's as they are not required to program the computer to auto drop old data they actually hande review accounts every 6 months based upon reports that tell them, John has old data go look at it.

? · Answer

7 years, yet a financial ruin continues to be for 10 years. the only way it has bumped off is that if the creditor notifies the reporting organization that it became a mistake, or you may coach some thing like id theft/fraud. you may upload a assertion to any unfavorable merchandise on your history by utilising contacting the credit reporting organization. Your assertion explains the unfavorable merchandise, it does not negate it.

Anonymous · Answer

Actually, it's 7 years after the account is charged off.

Christi · Answer

I have delt with this myself...7 years...although...zombie debt collectors like to change things...

Reena · Answer

Thanks for clarifying this. 

Yes, we did need to get this out in the open.

How long do negative items stay on your credit report?

6 Answers