Finance Blog
FAQ: How Long Does Information Stay on My Credit Report?
How long does information stay on my credit report?
By Diane Moogalian
In our regular surveys of consumers who come to the Equifax website and who call our call centers, this is by far the most asked question.
It’s understandable, given how credit is so important to someone’s personal finances. Mostly, consumers who ask this question are concerned about how negative information like bankruptcies, judgments, and late payments affects their credit history and score.
Luckily, there are set time frames for how long negative information remains on a credit report. In general, negative information more than seven years old from the date of last activity (ten years for bankruptcies) must be removed from your file.
Good information, like your on-time payment of credit card bills or your mortgage, can stay on your credit history forever. Having more good information helps strengthen your credit history and increase your credit score.
When it comes to a credit history and score, consumers often mistakenly believe that any negative information in their credit report comes from the credit reporting agency.
In fact, all information, both positive and negative, is reported to the three nationwide credit reporting agencies by lenders who have granted you credit, is included in public record information, or is reported by collection agencies. Credit reporting agencies compile this information and lists it in your credit report.
Here’s a rundown of how long certain types of credit information will remain on your credit history:
Credit Accounts
- Accounts paid as agreed generally remain on your credit file for up to ten years from the date of last activity (DLA).
- Accounts not paid as agreed generally remain on your credit file for seven years from the date the account first became past due, leading to the current not-paid status.
- Late-payment history generally remains on your credit file for seven years. It’s important to note that accounts with current statuses, such as R1 (revolving debt) and I1 (installment debt), that reflect previously late payment history will remain on the credit file for up to ten years from the date of the last activity-only the late payment history is removed after seven years.
Collection Accounts
- Collection accounts generally remain on your credit file for seven years from the date the account first became past due, leading to the account’s placement with a collection agency.
Public Records
- Judgments generally remain on your credit file for seven years from the date filed, whether satisfied (paid) or not.
- Paid tax liens generally remain on your credit file for seven years from the date released (paid).
- Unpaid tax liens generally remain on your credit file indefinitely.
Bankruptcy
- A bankruptcy under chapter 7 or 11 or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for ten years from the date filed.
- A discharged chapter 13 bankruptcy generally remains on your credit file for seven years from the date filed.
Inquiries
- Inquiries are a record of companies and others who obtained a copy of your Equifax credit file. The Fair Credit Reporting Act (FCRA) requires that Equifax disclose to you who requested copies of your credit file. Depending on the reason your credit file was accessed, credit reporting agencies generally retain these for one to two years.
- Some types of inquiries you might see on your credit report are not reported to others or used in credit score calculations. Promotional inquiries, in which your name and address were provided to a person who made you a firm offer of credit or insurance, such as a pre-approved credit card offer, generally remains on your credit file for twelve months and does not affect your credit score. An account monitoring or account review inquiries happen when one of your creditors performs a periodic review of your credit file in connection with reviewing your account. These inquiries generally remain on your credit file for twelve months and do not affect your credit score. Remember, when you request your credit report, these inquiries will generally remain on your file for twenty-four months and do not affect your credit score. Some states, like New York and California have additional laws
New York State Residents Only (must be current resident)
- Satisfied judgments remain on your credit file for five years from the date filed.
- Paid collections remain on your credit file for five years from the date of last activity/date paid.
- All other deletion rules apply as noted above.
California State Residents Only (must be current resident)
- Paid or released tax liens remain on your credit file for seven years from the date released or ten years from the date filed.
- Unpaid or unreleased tax liens remain on your credit file for ten years from the file date.
Consumer Statements
If you disputed an item and the investigation did not resolve the dispute, you have the right to file a brief statement with the consumer reporting agency, free of charge, explaining the nature of the event(s) that led to the negative information reporting on the Equifax credit report.
Consumers can edit the statement or request that it be removed from the credit report at any time, also free of charge.
Opting Out of Promotional Offers
Consumers can request to opt out or have their name removed from any promotional offerings, free of charge.
Have you checked your credit report recently? Now that you know how long positive and negative information stays on your credit history, you should pull a copy and make sure that all of your information is accurate and reflects your personal financial history.
Check back next month, when I’ll share more answers to the list of most frequently asked questions.
142 comments
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Good to know that those pre-approved credit inquiries don't affect your score. Thanks for sharing.
Unlike many other's who have posted on Ilyce's "Loan modification hell"I am fortunate enough to have been succesful. Having gone through the bank's process, I was put on a forebearance plan then a reduced payment plan before being modified to a permanant plan. Do you have any early indication's how this is going to impact my credit.
Can you explain if an account is closed-no activity, how can there be recent activity posted on the credit summary.
I have worked out of the country for nearly two decades and have very little on my credit report. Is it possible to get my former paid off GMAC car loan and university Perkins loan to appear on to a current credit report? Or…as I fear…all information purged after 10 years? Thank you for any help you may be able to provide.
You must in most cases demand that all negative credit reports be removed after the specified time has elapsed, the credit reporting agencies are very lax about updating YOUR file.
Another person with the same name as me had her positive credit reporting on my credit score. I alerted Equifax of this problem and they were very prompt and helping in getting the situation fixed.
How do I dispute my credit score going dropping 300 points because the bank refused to agree to a short sale within a reasonable amount of time.
Why is it that you can go to annualcreditreport.com one time a year to view your credit report from Equifax, Experian, and True Credit for free but you have to pay for your score? It's yours just like your credit report so both should be free to look at on a monthly basis if the consumers choose to do so.
Is the internet yours, too?
No, but her information is. Lenders, prospective employers and prospective lessors can see every last detail of your financial past, should they wish to. It would at least make sense that if you’re going to be held ransom by this system, you’d be able to view the information at will in order to check for errors or take action to improve your standing.
Joe, stop being an idiot. The question was valid. Jerk.
Credit scores, such as FICO, are not considered public information. Credit scores are calculated numbers based on proprietary software programs that weigh a consumer’s payment history, length of history, credit utilization, and other factors.
One open secret in the credit score world is there is no such thing as one true credit score. FICO sells consumers their credit score, but when the very same consumer goes to buy a car or house, the prospective lender may see a different score based on their industry. Also, some Web sites will sell a competitor to FICO, called VantageScore. It is possible in theory for a consumer to get their credit score from a Web site, a vehicle finance company, and a mortgage lender on the same day and be told their score is three different numbers.
Hi everyone! Thanks for your questions and comments. Sorry for the delay…
@Riverrat: I'm assuming your question pertains to how your credit score will be impacted. That said, since your credit score is based on the elements contained within your credit file, any impact a payment plan might have on your credit score would be dependent on your overall credit history. I'd suggest obtaining a free copy of your credit reports from the three nationwide CRAs at annualcreditreport.com or at any of the CRA websites directly. You will be given the opportunity to purchase your score after you've received your free annual credit report. You may also purchase a score directly from the three CRAs. After validating the accuracy of the information contained in your credit report, you can also add a consumer statement explaining the issues surrounding the forbearance plan.
@Yvette: There can be recent activity reported on an inactive closed account if the creditor recently reported activity such as changing the report date or the date of last activity of the account, etc. You should contact the creditor to determine what changed on the inactive account.
@Diane: Your credit score is determined based on information within in your credit file. You can dispute any inaccuracies on your credit report at any time by visiting http://www.equifax.com/dispute. You can also dispute inaccuracies by mail or phone. You will need to dispute inaccuracies on your credit reports with each credit reporting agency individually. You can also add a consumer statement explaining the issues surrounding the short sale refusal.
@Jenn: The Federal Fair and Accurate Credit Transactions Act of 2003 (FACT Act) which amended the Fair Credit Reporting Act (FCRA) requires the three nationwide credit reporting agencies, Equifax, Experian and Transunion, to provide consumers with access to one free copy of your credit report every 12 months. Since credit scores are not a part of credit reports, you are also given the opportunity to purchase your credit score after you've received your free credit report.
There is no disputing that. They don’t have to agree, Diane.
Diane, your score didn’t drop due to the bank not agreeing in a timly manner, but im guessing because you defaulted.
How often can a collection agency post on your credit report? If the original creditor is no longer showing on your report can the collection agencies keep filling up my credit report with negative information?
Can you explain this further -
Accounts not paid as agreed generally remain on your credit file for seven years from the date the account first became past due, leading to the current not-paid status
Does that mean if my first negative mark for an account that it was past due being in 2005, means it comes off in 2012? Or, the last time they marked it (took a little time to settle).
@Steven: Hi Steven. Yes, a collection agency who purchased a debt from a creditor still reporting or no longer reporting on your credit file, can continue to report the information within the reporting guidelines. The collections agencies can report to the CRA's for up to seven years from the date of the last activity (DLA). For example, the original creditor charged the balance off to bad debt in 2005 and subsequently sold the debt to a collection agency, the DLA in this example is 7 years from 2005, which was the original creditor's last activity on this account
@Derek: Hi Derek. Thanks for helping to answer Steven's question! See the example above in my response to Steven for clarification to your question.
Hi and thanks for the detail – just one more question. So of it happened in 2005 I believe you are saying it can be reported on for up to 7 years. Does that mean in 2012, they can no longer report AND it takes 7 years from the last reported item to drop off? Or, does every negative for that account drop off 7 years after the first negative? Thanks!
I had 2 account collections on my credit from the collection agency, my last time paying them was 2005, I called Transunion to ask them to put a fraud alert on my account and ended up speaking to a nice lady,who informed me that since no activity had been done on these 2 accounts,they were scheduled to come off in June 2012, checked my report in August 2005 and they both were off.
Hi Derek. Delinquent items, excluding some bankruptcies, can be reported for up to 7 years from the date of last activity (DLA) or date of delinquency.
You can contact the creditor directly if you have specific questions regarding information they are reporting.
Be careful with contacting creditors who report derogatory, collection, or negative information. I’ve been told that if you initiate any contact, it simply resets the seven years from the newest contact date. So, if original reporting was in 2005, you contact the creditor in 2012. It could potentially reset the clock and extend it to 2019.
Where did you hear this from? How credible is this information? Stop scaring people if you don’t have facts.
Collection accounts generally remain on your credit file for seven years from the date the account first became past due. You can read more about how long information stays on your credit report here: http://blog.equifax.com/credit/faq-how-long-does-information-stay-on-my-credit-report/
how long will a late payment on a credit card account remain on your credit report?
Okay so a collection account will remain on my credit for 7 years. Is there a way to remove it by paying the collection off. I mean is there point in paying off the debt if it is going to remain on my credit as a blemish.
@parkerpprk: Check out the article above under "Credit Accounts" for more specifics…generally, accounts not paid as agreed remain on your credit file for seven years from the date the account first became past due, leading to the current not-paid status.
Also the blog has more points of clarification, hope this helps!
@Vickie: As a general rule it is always better to pay off debt, even if it is charged off or in collections. While there is no way to 'remove' the collection for 7 years, creditors will often report the debt as paid and it is often viewed more positively.
YEAH RIGHT !!
No always true. Paying a 6 year old debt will cause your credit score to plummet because it was, well, 6 years old and therefore not counting against you as heavily. When you pay it, it becomes a recent collection that you just paid off. It can also restart the clock so it can show as a collection on your report (admittedly now a paid collection at least) for another 7 years from the date you paid it. If you are working with a mortgage broker have them run the “what if” tools they should have from the major credit reporting companies like Factual Data.
If I choose to stop paying a revoving line of credit (due to unfair behavior from the creditor), once I settle the account, how long will it remain on my credit report?
I have many credit reports dating back to 2004. When reviewing past reports keeping some throwing out others. I came acroas a MY FICO report dated 2004.At this time i was going through a divorce and did not focus on the ACCOUNT SUMMARY Page. On this page it shows a creditor (JC Penney) with a date of .DATE OPENED: 9/1980. 1980-2004 is 24 yrs. (this was in 2004).Why would a creditor be on a credit report for 24 yrs.This acct shows opened Sept 2004. I never used this acct.I don't remember applying for it.. Thank You
Im now divorced and live in an apt. I have been here 5 yrs.When deciding i would like to purchase a home or condo so i can establish credit under my name, And going through all the procedures and paperwork credit checks my loan was denied. It was tated that my Equifax report showed no credit history..I do not understand why only one reporting agency was used. My Trans Union and Experian shows my credit history. Why dosen't Equifax?? I have a credit score for Equifax. but no credit history. All three of my scores show over 750.
@Heather: Thanks for reading and commenting. Most accounts will stay on your credit report for 7 years. Take a look at the article and posts above to find the specifics for your account type. However, you should make sure that you settle the account properly with your creditor. Stopping payment on your account may have a negative effect on your credit score.
@Toni: Thanks for your questions. In general, the date of LAST ACTIVITY determines how long an account remains on your credit file. If you have inaccurate information on your credit report you can file a dispute. Please take a look at this blog post for more information:
http://credit.equifax.com/2010/06/how-to-dispute-credit-report-errors.html
With regard to limited credit information on your Equifax file (if you have a score, you have a history), not all creditors use data from and report data to all three major credit reporting agencies. You may want to inquire about your specific scenario with your creditor.
I am in an active Ch 13 filed 2 years ago. Recently via the online dispute center i disputed a payment that was recorded incorrectly on a mortgage that is NOT included in my ch 13, it is a mortgage that is up to date and paid outside of the ch 13 plan. The payment history was updated correctly but at the same time the creditor changed the description of the account to being included in a ch 13 and erased 5 years of good payment history. When i tried to dispute that, they simply changed the wording from ch 13 to W.E.P(wage earner plan) which is another way of saying ch 13 and yet again wiped out 5 years of payment history. This unexpected result from my first dispute caused my credit score to drop by some 40 points with equifax due to the missing payment history. Is this kind of reporting allowed under the FCRA and if so for how long and why? how do i resolve it?
Contact your BK atty and the Trustee of BK. Explain it to them. The Trustee of BK can take specific and harsh actions if the “creditor” is harming your BK estate willfully and in violation of law. He can actually place your house in the BK and wipe any debt over home value as well as lower interest rates etc.
The issue is the CREDITOR may have entered your house into the BK as a third party applicant and the Trustee then has the right to even WIPE the debt entirely, or alternativley move the BK to chapter 7 and wipe the debt.
You could actually make out very well.
@ECJ: Thanks for your question. It sounds like there is a discrepancy regarding what is included in your bankruptcy. The documentation from the bankruptcy should clearly identify what is included, so the first step should be to validate understanding with the bankruptcy papers. If the mortgage is not included in the bankruptcy, the creditor would probably need a copy of the papers to correct. The actions stated above are consistent with what would happen if the mortgage were included in the bankruptcy.
Regarding the credit score, there are several factors that effect your score of which payment history is one. Each credit reporting agency has their own model for deriving a score, I have provided a link with more information on factors that impact your score below.
https://help.equifax.com/app/answers/detail/a_id/138/noIntercept/1
Lastly, you mentioned The Fair Credit Reporting Act. This is a federal law that regulates how consumer reporting agencies use your information. Please see the link below for more helpful information.
https://help.equifax.com/app/answers/detail/a_id/36/noIntercept/1/kw/fair%20credit%20reporting%20act
You said:
"In fact, all information, both positive and negative, is reported to the three nationwide credit reporting agencies by lenders who have granted you credit, is included in public record information, or is reported by collection agencies."
Not so. I have accounts that are not reported to one agency or another. It appears it's up to the lender if they report, and who to.
How can any credit decision be based on this incomplete information. If you are going to report on one account, you should report on them all.
Hi David, thanks for reading the blog. You're right, it's up to the lender to report accounts to the credit reporting agency. Check out this blog for more information about how the information is updated on your credit report:
http://credit.equifax.com/2010/07/credit-report-update-how-is-information.html
Thanks again for commenting and I hope you come back to the blog.
My son’s credit score is 50 points below what it needs to be to refinance his house at a lower interest rate, is there any quick ways to boost it. Also, he had a revolving account that is now closed, he had 3 late payments, but he did pay the entire balance and it shows “paid as agreed” how badly do these late pays affect him and is there any way to get them off before the 7 years, or is there something else we should be doing to boost his credit rating?
@Debra: It takes time and there is no quick fix for eliminating past aspects of your credit history that may be negatively affecting your credit score. Credit scores are based on your credit history and can generally only be changed over time. The key is focusing on positive behaviors such as paying bills on time, and paying off debt rather than shifting to another card. For more tips on how to improve your credit worthiness, check out our frequently asked question https://help.equifax.com/app/answers/detail/a_id/131/noIntercept/1/kw/how%20do%20i%20improve%20my%20score/session/L3RpbWUvMTMzMDQ0ODk5MC9zaWQvSXlFb2JSUms%3D
How about making ALL your payments on time for a credit score boost! That doesn’t make sense, does it?
How do you get Equifax to correct a dissolved bankruptcy from 2004? I understand dissolved bankruptcy stays on your credit report for 10 years. However your credit agency is the only one that has it opened/active from 7 years ago. I have written to you and sent you a copy of the court order dissolution document, however you still will not mark it dissolved on my credit report. Do you investigate when given a letter a copy of the dissolution?
@ Sarah: A Chapter 7 bankruptcy will report for 10 years from the date filed. Any documents received are accepted to aid in updating the file. The regular redispute process is to contact the data furnisher to have the reporting information updated, that would be your best course of action.
I filed for bankruptcy in 2005. at that time i reaffirmed my home and auto loan. Is there a way to make the mortgage company report my payments for the last 7 years? they show that it was included in bankruptcy with no balance due and no payment history. It also doesnt show as a mortgage account,which in my understanding would increase my scores. they also didnt start reporting until about 2 years ago, I didnt realize that until i tried to refinace and a broker told me there was no history.
@Polly: Since the Credit reporting agencies only report information received from credit grantors, the best route to understanding what and why things are reported is to go directly to your mortgage company and attempt to have them report you payment outside of the bankruptcy.
Also note that as a consumer, you can always place a statement/explanation on your credit file.
We have been paying off credit but my question is on the 3 different credit reports luckily I save them from prior we have a few collections that should be off our report but the collection agency keeps changing the dates. so they stay on although we have done nothing with them.
How is this legal as I have always been informed it is the date it first become a bad credit such as I missed a payment and 30 days later they turned it to collections it would be on the 30 days when they turned it over?
One last question I had some medical bills go into a judgment years ago, it has been paid but while that was being paid the collection agency took some of the payment and put to a bill that I had disputed without my consent and they had garnished the money for my debt. Is that legal?
@Anonymous – In general, the date of LAST ACTIVITY determines how long an account remains on your credit file. If you have inaccurate information on your credit report you can file a dispute. Please take a look at this blog post for more information:
http://credit.equifax.com/2010/06/how-to-dispute-credit-report-errors.html
With regard to your garnishment, an attorney should be able to give you a legal opinion.
Thanks for reading and we hope to see you on the blog again soon
If you have inactive or unused credit cards with a zero balance, and you close the accounts, when you close them does your credit history score go down?
If I close an inactive account with a zero balance, will it affect my credit history score?
Just speaking from experience and my general understanding, closing any account can effect your score. Credit cards in particular effect the scores as the balance to availible credit is important to your score, both on an account by account basis and the overall picture of your credit card balanaces. For example having 3000 availible and a balance of 1000 is pretty good as only 25% of the credit is utilized. However if it is 4 accounts, each with 1000 dollar limits, this becomes a negative because while 3 cards have 0 balance, 1 is maxed out. It all depends on how the credit reporting calculates your score, and how the creditor reviews your report.
Once a creditor submits to Equifax for an item to be deleted from a credit report how long does it typically take Equifax to process the request?
So by recent activity you meen the original creditor not the company they sold it to? dish network say i owe $1000.00 that i know i owe but the amount is incorrect that was 2007 whan the account was closed but enhanced recover pushased the debt and keep reporting it last reported in 2012. When does the 7 years start when enhanced reported it or when dish netork closed my account..please help…i need 68 more points to get finance from my own bank thanks
Do I have to wait until the 6th year anniversary of my discharge for a bankruptcy to come off of my credit file or 7 yrs from the date it was file?
what happens if the information there says i opened it in a certin year when i really opened it years befor that? how can i prove that what they have is wrong? and one of the thigs it says i owe my old aparment complex when i got my deposite ?
Kewl. This blog states good entries can stay on report indefinitely. Don’t guess I realized that when I signed up for debt or I might not have gone there.
My Equifax report states up front that accounts will be on record for 10 years, yet for one small account there is an individual notation that it will be 12 years. Guess they just keep adding on and don’t say so up front. All of my records are positive by the way.
so,, um,, whadda ya bitching bout ????
Do you have anything positive to add? You keep dissing on everybody in all your posts.
My husband and I recently had our credit report pulled when we tried to get a 2nd mortage. The bank said they would not grant it, due to a couple of items that were on our report from almost thirty years ago. I thought that items were removed after 7 years. The late payments did not prevent us from buying our home almost 13 years ago. So why is it still there and why would the bank use information 30 years old?
@Ann – Thanks for reading and commenting on the blog. If you think there are mistakes on your credit report you should file a dispute. More information here: http://blog.equifax.com/credit/how-to-find-and-dispute-credit-report-errors/
I recently called equifax in regards to removing an collections item from my credit report. The date of last activity on the account is August 2006, I am current resident of New York State and have been all my life. Per the NY State law and Equifax website information, collections will be removed after 5 years for a NY State resident. After speaking with a representative from Equifax on the phone they told me this is not true and it only applies to “judgements”. I specifically told her it was information directly from the Equifax website and she still would not help me, or let me speak to a supervisor or manager. I am extremely upset!
My husband recently filed chapter 7 bankruptcy which included a credit card issued in florida on which i was an authorized user not co-signer. The bankruptcy has since been discharged. Now Navy Federal has placed the “charged off” debt on my credit which dropped my excellent credit score down 150 points and I believe they intend to come after me for the amount owed. Remember I was an authorized user not a co-signer and according to Florida law I am not legally responsible for the debt. I contacted Equifax and desputed the claim but they informed me after investigation that I did own the debt. I believe I am in the right and I want that charge off removed from my credit report. Whose right?
Hi Brandy, Equifax can only report the information given to them by creditors and lenders. If you’ve filed a dispute with Equifax and the lender has proven the debt is yours, you’ll have to contact the lender directly. However, if you disputed an item and the investigation did not resolve the dispute, you have the right to add a brief 100 word statement to your credit file, free of charge, explaining the nature of your dispute. Your statement will become part of your credit file, and will be included each time your credit file is accessed. Find more information here: https://help.equifax.com/app/answers/detail/a_id/154/search/1
Thanks for all the great comments and questions on the blog. We’ll be updating this post and answering your FAQs in a new post soon.
In 1998 I opened a Capital One Credit Card..In 2006 I closed account (Divorce)Paid with NO Balance (2 late payments30 days).On T.U. Report states “Closed by Credit Grantor”.incorrect.I requested to have account “Closed”.In Payment History it shows “2 Late Payments” in the last 12 months (one year). How can I have 2- 30 day late payments in 12 months if I closed this account in 2006. The issue date for this report was 04/2012. Last 12 months would be 04/2011.How can this be possible.?
Thank You
@Toni – Thanks for reading the blog. If you think there’s incorrect information on your credit report, you can file a dispute here: https://www.ai.equifax.com/CreditInvestigation/
Ok, you filed bankruptcy 09/2005 I understand the bankruptcy itself will remain on the credit report for ten years, but what about the accounts that were included into the bankruptcy that show charged off or included will these come off the reports at the 7 year marker? If so will they be automatic or do I have to dispute the accounts that are still remaining to have them removed from the report leaving only the BK 7 for ten am I under the correct assumption?
I don’t believe the banks and other lenders limit their knowledge of anyone’s past credit history to seven years, ten years or any years. They are not going to ignore information in their own files or available to any accredited lender. any info they have about you is there forever.
All 3 credit bureaus do a terrible job, not accurate at all. Furthermore, the entire credit reporting and scoring process in the U.S. is a joke. But what do you expect, government regulation will eventually be the fall of the one time greatest County in the World. Good day fellow peasants!
I have an old card that I was late on back in 2005. It’s now 2012 and it’s been 7.5 years since I was late. The late payment is still on my record. I cannot get them to clarify if it affects my credit or not. Back in 2007 I called the credit card company, paid it off and told them to close the account but they didn’t do the last one, just stopped sending me statements. In Jan of this year there was a mistake which caused an activity on my account. This started back up the entire retention period for the credit card.
I called several times and asked them and they said that the account will purge after 6 years but would not say anything about the 7.5 year old late payments.
I have this from the website:
Late-payment history generally remains on your credit file for seven years. It’s important to note that accounts with current statuses, such as R1 (revolving debt) and I1 (installment debt), that reflect previously late payment history will remain on the credit file for up to ten years from the date of the last activity-only the late payment history is removed after seven years.
This seems to hint (“only the late payment history is removed after seven years”) that my late payments should be gone.
I’m wondering, do these late payments still affect my credit? I’m in Canada. If they do, it’s very odd.
If I get visa 1 now and pay the first bill in 3 months I get a 3 month late. If I keep that card open for the next 25 years, according to the lady I spoke to, the late payments will still be on record and affecting my credit. However, if I’d just cancelled the credit card that first year, I’d be good to go again in 6 years. Basically, if I’m late on a payment I should close the account immediately and get a new card with someone else to avoid having my credit hurt forever by some very, very old late payments.
PS: I was a student eating once every two days at the time of my late payments. It is now almost a decade later, I am educated, have a career and a family of 4 but these late payments seem to be haunting me and I don’t understand it.
If anyone knows what I can do, please post…
As a follow up, if the suggestion is for a dispute, is there a point?
Is it PC Financial that I have to call? I called and spoke with one lady who said that yep, they are still reporting the old late payments but it’s impossible for them to take those off and why would they? It’s the credit bureau that is supposed to. I was so polite that I was actually in physical pain because of it but from the second she picked up it sounded like she was having a bad day and I was preventing her from going on break. She put me on hold for over 10 minutes just to look at my account and kept telling me that not only would they never erase a late payment (why would we, she asked me), they absolutely can’t.
Equifax says that PC Financial is the only one that can remove the late payments. It is absolutely absurd and illogical that someone who was a student in distress be punished for it more than a decade later. Fiscally it’s dumb because it takes valuable money out of the economy.
On the other hand, for all I know they might just be visible to me but might not affect my credit at all, I just want to know for sure. Will 7.5 year old late payments affect my credit and will I have to put up with that for the next 6 years because they made a mistake activity this year (totaling 13 years of bad credit for late payments)? If so, as a Canadian, are there no laws to protect me from this? It’s been years since I was late on any other payments because I make lots of money now and have a wife who also makes a decent chunk.
I have an old debt (6+ yrs) that was recently sold to a debt collector. They have been reporting this to the credit agencies as a “current debt”. Is that legal?
I submitted a dispute with Equifax. I have on my credit report an apartment owner filed against me. This was taken to court and the case was dismissed in my favor. I mailed a copy of it in with my dispute and Equifax sent me back a paper stating it will remain on my report. If I want to have it removed then I need to contact the business its self. I’m very confused…any answers would be greatly appreciated!
I have a bankruptcy that was granted in 2007 ut some of the debts under that are estimated to come off my credit report. Does that mean that each item will come off when the estimated time occurs or do all the Chptr7 bankruptcy accounts remain until the chtpr7 is removed (10yrs)??
any help? thoughts?
Equifax is currently employing some undereducated or vengeful verification staff. I filed two disputes, sent proper documentation, and to no avail. In the end, Equifax told me to contact the creditor.
There is another way to assert our rights. We can request in writing that Equifax send proof of the method they used to verify the disputed debt. If they cannot prove that they took the time to CALL the creditor and VERIFY the dispute, they have to remove it. do not understand why the site reps are not mentioning that fact. People are not stupid. A statement on the report means NOTHING to a potential creditor. Quit harming people already!
@ Thom You’re bankruptcy will remain under the public record section for 10 years…the accounts themselves should be removed after the 7 years…at least that’s how it worked for me, my bankruptcy discharged in oct 2002 so the public record just came off last month, the accounts themselves I haven’t seen in a long time.
I have an account in which I am an authorized user that reports as both positive and negative with the statuses of PAID AS AGREED (on both sides, same acct number). The date of verification is N/A. If there is no date of verification, how long should I expect the account to report as negative PAID AS AGREED? Also, I recently refinanced my home and now the OLD mortgage is completely gone – closed. I thought positive accounts remained on your report even if paid off. Am I mistaken? It seems to be the case for installments. Cars that have been paid off for years still show on my report and is included in the debt amount. Seems like the algorithm is off and needs tweaking.
in jan 07 i have a late payment when will it be removed in 2013 or 2014?
Jamie, You’re almost there! Late payments typically stay on your credit report for 7 years, so if you missed the payment in 2007, it should be removed from your credit report in 2014. There are some exceptions though, so read our blog How Long Does A Late Payment Stay On My Credit Report for more details. Thanks for asking and come back again.
in jan 07 i have a late payment when will it be removed in 2013 or 2014?
Does anyone know about the following – I am current on my mortgage payments and am doing a short sale; how will that be shown on my credit report and how many points will it affect my credit score. I have received different answers depending on who answering. Thank you.
Karen, You’re probably getting varied answers because a credit score is based on all of the information on your credit report. A late payment, closed account or short sale, for example, will all affect each person’s score differently depending on the rest of their credit report. Click here to learn more about how your credit score is calculated. After the short sale, you can increase your credit score following tips to improve your creditworthiness. Click here to learn more about what you can do to reestablish your credit.
If at all possible I wouldn’t recommend a short sale. I went from a 835 to a 559 credit score. I followed what the bank asked me to do and became behind on my mortgage (I wasn’t behind at that time either). I am hit with 7 yrs on my credit score….I regret it.
I just found out that somebody applied for and obtained a Master Card using my social security number and address. This happened in May of 2012. I received no paper statements from the company until January 2013. I think the person doing this asked for online, paperless statements. They gave a false email address and a false phone number. The man from the bank (G.E. capital) said: “We’ve been sending you emails for months, and have been trying to call you.” He told me the numbers and address and they were fraudulent. G.E. Capital is sending me a “fraud package” to fill out.
My question is: How do I get this negative information out of my credit report? It will probably take several months to clear this up. I have asked to see the paper application filed in my name, and find out what was purchased. The card had a credit limit of $3,000.00 and there was one transaction for $2,950.00. I bet it was a cash advance. Anybody out there been down this road before?
Bill, oh no! Identity theft is a rapidly growing problem and I am so sorry to hear that you have been a victim. It’s great that you’re being proactive about this though and it sounds like you’re on your way to disputing the identity theft. Here are more tips to fix the damage that has been caused: http://blog.equifax.com/credit/what-to-do-if-youre-the-victim-of-identity-theft/.
When the lender receives your completed fraud package, they should use that to remove the item from your credit report. If they do not, you can file a dispute with the credit reporting agencies: http://blog.equifax.com/credit/what-to-do-if-you-think-theres-an-error-on-your-credit-report/
Since you have discovered that one card was opened fraudulently, it is really important to check your credit report to make sure there weren’t additional cards opened fraudulently. Here’s how to check your credit report: http://blog.equifax.com/credit/have-you-pulled-your-credit-report-yet/
Good luck, Bill. Please come back and let us know your progress.
yeah Bill, ”oh no” ,, gee thanks EFX
whateva, you are an idiot. if you don’t have anything productive or constructive to add, please stop.
I had two credit cards that I was using too often. I always paid them off at the end of each billing cycle but it was just too easy for me use them. I decided to cancel the cards. They had a zero balance and were always paid on time, usually in full. Why did my cancelling these cards hurt my credit rating?
Becky, great question. Your credit score is based on a few factors from your credit report, and one of them is the length of your credit history. When you closed your accounts, you changed the length of your credit history, which can lower your credit score. The good news is that you had on-time payments and I’m assuming the account closed in good standing. This information can stay on your credit report forever, which is important for creditors to see. Read this blog for more information on how your credit score is calculated. Thanks for posting.
My secoond question to you….most of the credit checks on my report are made by places I’ve never heard of. Others are by companies where I have made a general online inquiry about the nature of their services or the cost of the long term care insurance thy offer etc. I never applied for their services nor did I give them permission to run a credit check. Now my credit score has been negatively impacted because of “too many inquiries.” Why is this?
Becky, welcome back! Your credit score is also based off of the number of inquiries made for your credit report. I’m concerned though that some of the inquiries are made by companies you haven’t heard of. It could be a sign of identity theft. I encourage you to read these blogs on how people become victims of identity theft and what to do if you’re the victim of identity theft.
For the companies where you know you did submit an inquiry, it could be that you included your personal information and social security number and missed the fine print saying they may use the information to review your credit file. It’s really important to guard your personal information since you may not know how another party will use it.
I hope this helps, and I congratulate you on being proactive about your credit history.
My credit cards are maxed out right now but I’m paying them all off in June, how long will it take to improve my credit score?
Roseann, I’m glad to hear you have a repayment plan in place. Part of your credit score is based on your balance to limit ratio. Keeping your balances low will have a positive impact on your credit score. It’s hard to know how quickly the impact will be shown on your credit score because your score is based on multiple factors. Click here to learn more about how your credit score is calculated. Thanks for posting and I hope it helps.
Have You Ever Recovered from Bad Credit? The first step you must take to recover from bad cridet is to know what is on your cridet report. You are legally entitled to one free cridet report each year. My Journey to Millions
I keep reading in the responses that collections will fall off your report on the date of last activity with the original creditor. My question is, I have a copy of my Equifax report, and under the section titled “Collection Accounts” it reads as follows:
“A collection account under public records will automatically purge from the system SIX (6) years from the date of last activity.”
So, if my date of last activity with my original creditor was June 2007, would this be coming off my report in June 2013 even though the collection agency has listed my date of last activity as June 2008, and date assigned as July 2009?
I’m writing from Canada so maybe our laws state a purge after 6 years and not 7?
7+6=13,, even in Canada, eh?
I filed for bankruptcy and dismissed it 7 years ago this February. I technically needed it as a tactic to delay a foreclosure and give enough time to do a short sale. SO, i never had intentions of filing for bankruptcy. My question is, since its been 7 years, do i need to contact the credit bureau or will it come off automatically? Is there a form i need to fill out? Is it true that If i contact them that the time will start over?
I have an account with Capital One that should have dropped off of my credit report in 2012. I have not contacted the creditor. When I last pulled my report they updated the amount owed to over $10k when prior to this it was a little over $6K. This account is closed but not charged off…will it ever fall off of my credit report if they keep reporting information. The card was opened in 2002/2003 with the last activity in 2004/2005. I don’t want to contact them or disupute it I simply want it to fall off of my credit report.
If the last activity that you’re aware of was in 2005(ish), then the first action, unfortunately, would be to contact Capital One and find out what action *they* are seeing. It is possible you may be the victim of identity theft and/or just a stolen credit card number. Contrary to one of the first comments, simply calling them does not “reset” the 7 year period. The concern with many people is that when they call a creditor or collection agency, they may be persuaded to make payments (maybe they’re offered an extremely low balance to pay off, or low low minimum payments, etc). In this case, though, they have now caused “action” which can reset the 7 year period if the consumer fails to pay on time for the remainder of the balance.
Thank you everyone for all of your comments and interest. It’s great to see so many people interested in improving their creditworthiness. Every situation is different and every credit history is unique. We’ll be answering your most frequently asked questions in upcoming blog posts. Be sure to come back to the blog soon. Thanks again.
I guess I am lost on this topic! Can someone clarify for me? I understand that negative reports drop off after 7 years. Is that 7 years from the date the debt occured or from the date it was reported?
For example…
Date Opened: 04/06/2012
Date Reported:08/10/2012
When is this due to drop off (as long as there is no new activity)?
One more question. If a creditor is reporting to only 1 of the 3 agencies can I request that they report to all 3?
Hi Confused! The 7 year limit is from the date of the last negative action. For instance, if you were late on a credit card, then 7 years from the last time that happened. If it got sent to collections, then 7 years from when *that* happened. It is common for creditors to continue reporting accounts to the credit bureaus, but the 7 year limit is *not* from when they last reported!
You can request that of the creditor, but typically it’s not going to happen unless it’s a small company. Larger companies have established relationships and processes set up to report to the bureau(s) of their choice. That said, most creditors report to all three; it’s typically collection companies that only report to less than all.
WoW,, you open an account, 4 months later, your late? you really suk!! it should stay on YOUR record for 30 years & you shouldn’t be granted credit ever again
Is it possible to have a negative account removed from your credit report before the seven year time limit? I have some this that is negative and would like to have it removed.
Great question. Since the information on your credit file comes from your lender, it would be up to them to make changes on it. Thanks for posting.
How are early payments treated ?
(Late payments are nearly mortal sins…)
Do early payments have positive impacts ?
John, you’re right that late payments have a negative impact on your credit report. Since payment history makes up 35% of your credit score, a late payment could drop your score. Early payments are considered to be on-time payments since they’re still being made before the due date. On-time and in full payments will definitely have the positive impacts you’re looking for in your score. Here are more tips to improve your credit score and creditworthiness. Great question and thanks for posting.
I filed for Chapter 7 bankruptcy in 2005. Currently I have a debit/credit card for purchases. I want to apply for a major credit card. Is it too soon to apply for a credit card?
Cheryl, great question. Opening a new credit card and paying the bills on-time are a good way to reestablish your creditworthiness after filing a bankruptcy. We have 10 tips on further improving your creditworthiness. Remember to pay on-time and don’t take on too much debt. Let us know how it goes. Thanks for posting.
So the 7 yr mark for something to fall off was back in October 2012. Have not used any credit during this time. So why when I inquired about an auto loan at a car dealership, I was told that I had a credit score of 0. No credit history or score was found. However back in May 2012 I had checked my credit report and it said 620. Do I have to reestablish credit or am I missing something.
Forgot to add that it was an auto repossession that was to fall off October 2012.
Crystal, Re-establishing your credit is really important after a negative setback. We have tips here on how to improve your creditworthiness: http://blog.equifax.com/credit/improve-your-credit-score-and-creditworthiness/
I hope this helps and thanks for posting.
After 15+ years of a clean report, this January I had a “Negative Account” show up. It is a an American Express card that was closed in 1990 and shows a past due balance of $9.00. I also see that me credit score has dropped because of this. As this is clearly over the 7 year limit, what would have caused it to show up now. Also, is this a situation where I go to the creditor or contact the reporting agencies to request that the info be removed from the report given it’s age.
Pamela, Fortunately it’s a very small debt. You could talk to the original lender, American Express, to find out why they’re reporting it now. A quick conversation could prevent any other surprises. You can also file a dispute with the credit reporting agencies. Even though it’s a small amount, it could still be a debt that you owe. You can verify that the debt is accurate with the lender and repay it if it is. I hope this helps.
My credit score was negatively impacted when “the world’s worst bank” Bank of America, closed a zero balance credit card I had for about 20 years. I would have glady closed the account if I had been informed but because the “creditor closed the account”, it is a negative on the credit score. This of course caused me to jettison BOA and move to another bank. I contested it and the negative impact was upheld. To those out there with dormant credit cards, charge a couple of bucks on them every few months and pay it off so this doesn’t happen to you.
Hi, when the accounts come off the report after 7 years, does that do anything to your score?
Linette, if an item is removed from your credit report, it means it’s no longer used in calculating your credit score. Because your credit score is calculated by considering many factors, it’s hard to say how this will affect your credit score. Click here to learn more details about how your credit score is calculated. I hope this helps and thanks for posting.
I had a captial one card years ago that had a credit limit of 300.00,Due to a illness the acct. went into a negative status ,payments were made but at this time they are saying we owe 2,222.00 which is nuts because the credit limit was only $300.00. looking at our credit report from experian it says this : This acct.is scheduled to continue on record until april 2013..
It has been on there for years. after this clears will it still have a negative effect on our score or will it be as if it hasnt been there?
Teresa, those fees and charges can really add up. You’re right though that $2,000+ due on a $300 limit seems pretty high so you might want to check in to how that total was calculated. When a record on your credit file has reached its term limitations, it no longer impacts your credit score. That does not eliminate the debt though, you still owe that. Here are tips on how to prioritize paying off your debt. I hope this helps.
I had a default judgement filed against me,10years ago for a repo on my truck. I recently received a letter from an attorney claiming they can garnish my wages if I don’t pay what I owe Ford Motor company. Is this possible? I thought after 10 years a judgement was closed? And if so, how can I find out when the judgement was filed?
Jessica, great question. Judgments placed against you could be removed from your credit report after seven or ten years, depending, but that doesn’t eliminate the debt itself. To find out when the judgment was filed, you could look at your credit report to see if it’s still there or contact the attorney who is notifying you about the debt. They’ll have information on how and when the debt originated. If your debt is cancelled, you may have to pay tax on it. I hope this helps and good luck.
I have late payments on a credit card I had a while back. I closed the account over 7 years ago. Just after the 6 year range I accidentally made a payment to the account and that caused them to report to equifax.
Now it’s been over 7 years since my late payments and yet there they are, glaring at me from my credit report when I grab it. I call up and Equifax tells me that it’s 7 years from the date of last activity. That means I still have 5 or so years to go meaning my late payments won’t come off until almost 2 decades after they were done. How is this possible? Why is this possible?
The thing is, I was a student at the time and very poor. Prior to that my credit was awesome and I haven’t had issues since. The late payments are completely unrealistic as they were from a specific context and event and do not reflect on the reality which is that at every point in my life otherwise I’ve made payments on time.
What can I do? The bank refuses to do anything. Equifax refuses to do anything. This is my ability to get credit and yet it’s being goverened by something that is not a realistic situation.
How is this all legal? Lol, I tried contacting my government folk and of course they said contact these other people that had months of backlog and never got back to me.
Lol, there’s no real point in answering. The only answer will be: If you think there’s something wrong with your credit call us. Unfortunately, that’s useless as you’ll just tell me that there’s nothing you can do, call the bank that will say there’s nothing they can do, call the credit bureau.
Why not just have a law that says that no institution can report things like late payments for more than X amount of time or one that says that credit agencies cannot divulge or use negative information whatsoever after a certain period of time?
I now have a great career and make lots, there’s no reason my credit should suffer but it is and that’s the only explanation.
I have 5 student loans that defaulted almost 5 years ago according to my Credit bureau report, however, when going over some of my old bills, it states that I became PD as of 2003 “DF- Defaulted Unresolve” Does this mean that The OC reported the incorrect “Date Of First Delinquency.” If so, can I contact the CRA’s w/ the proof that I have and have these derogatory marks taken-off from my credit report since it has been more than 7-10yrs since my first date of Delinquency.
AC, You can and should contact the credit reporting agencies if you think there’s an error on your credit report. It sounds like you have proof that the lender made a mistake in reporting your debt. You could make copies of that proof and mail it in with your dispute claim. Supporting evidence can help settle your dispute quickly. Here’s more information on what to do if you think there’s an error on your credit report: http://blog.equifax.com/credit/what-to-do-if-you-think-theres-an-error-on-your-credit-report/
I hope this helps and thanks for posting!
This blog is so helpful! If I opened a credit card back in May of 2006 which went to into collection status a few years after around 2008? and the last payment was made in 2011, what will drop from my credit at the 7 year mark (which should be in a couple months)? I have a collection agency calling me and I’m not wanting to make any payments for fear of restarting the clock. Since I made a payment a couple years ago, does everything remain for 7 years from that payment date? Or the very first time I was past due? And does past due equate to 30 days past due or collections status past due? Sorry for the questions!
My husband became delinquent on a CC in 2007. I am an authorized user and this is also appearing on my report. The account was charged off in 2008, the date of first deliqency is 2/2007, major delinquency 10/2007, date of last activity n/a. How can I get this off my report as my husband was financially responsible at the time. A 1099 was filed for the full amount and reported as income. The CC company continues to report each month and it shows that we still owe $10,000. We have been working on repairing our credit but this being on both of our reports is not helping at all. How long will it stay on here?
How long does it take for Court fines and fees to fall off of a credit report? Thank you.
I missed payments on a hospital bill that eventually was filed with the local court and added as a “Public Record” on my credit report. As soon as I was notified, I called the hospital billing department and paid the amount in full, so no judgement was ever filed. How long will the “public record” stay on my credit report and how damaging will it be to my chances of obtaining loans in the long run?
I was discharged from bankruptcy in 05/10. The majority of my credit card accounts were last reported in 08/10 but I have one that was reported in 05/11 and another that was reported in 08/12. They are all showing as “included in bankruptcy” with a balance of “not available”. I’m wondering though why a card would still be reporting in 2012 if it was included in a discharged bankruptcy 2 years earlier? Is this correct?
I just check my credit report today and i found this on my credit report. Late by 2 payments in the past. Occurred in 10/2006. What is the estimate month and year before it will deleted out of my credit report. Thank you
Gil, great question. In general, negative items will be removed from your credit report 7 years after the date of last activity—though it depends on the item. Here’s more information on how long late payments stay on your credit report. I hope this helps, thanks for posting.
Do all lending and or equipment financing companies report?
If not, is it possible from companies that do not report, to request account payment history information be reported to a credit reporting agency(s)?
Zane, great question. Not all lenders will report your payment information to any or all of the credit reporting agencies. You should ask yours and see what they do. If your lender does not report the information, self-reporting isn’t allowed because data is carefully regulated and there are industry reporting standards. Here’s more information on how information is updated on your credit report: http://blog.equifax.com/credit/credit-report-update-how-is-information-updated-on-my-credit-report/
If I file a dispute and the results say that the item has been deleted, how long would it take before it is removed from my report? I have 6 items that were to be deleted as of the end of March but are still there as of today.
We have a foreclosure from 2009 on our report. I understand it stays for 7 years from the original date in 2009. However, after 3 years of silence the mortgage company is now reporting late payments to Equifax which has caused our credit to drop once again. The only thing that occurred in 2013 was we received a 1099 from the mortgage company. Is there any way to stop these frivolous late payments from being reported?
If negative items have to be removed after seven years does this include an account that you haven’t paid? And if so, how can the collection agency keep “updating” it every month so that it looks current instead of 4 years old?
I have seen in several responses that a collection will be removed from your credit report 7 years from the date of LAST ACTIVITY. My question is, what is the date of last activity. I have a collection on my credit report, and I do not see a date of LAST ACTIVITY listed anywhere. The “Date of First Delinquency” is 10/2007, the “Date Assigned” is 12/2007, and the “Date Reported” and “Balance Date” are both 12/2011. Which one of these dates is the magical “Last Activity” date that starts the 7 year countdown?
I cant find an answer to this question. If accounts says CLOSED because of an unpaid balance what does that mean really? Can anyone else pick up this account still and try and collect on it or suite over it if it is closed.
Question: I am in the process of looking for a new apartment. I applied at one i really liked. I was declined residency because of my credit. While disappointed this was the kick in the butt i needed to get a copy of my credit report. I did just that and have paid off 3 of the smallest bills. I am not sure how long each had been on my report. My question is how long will it take for those to show paid on my report and by paying them off will my credit score go up and how long will that take before i should re apply to the apartment.
Godiva, I’m sorry to hear you were denied an apartment but it is great motivation to get your credit file in order. It’s up to the lender to report the updated information. Click here for details on how your credit report is updated. You could always call your lender and ask how often they report information to the credit reporting agencies. I hope this helps.
Hi
Question: How long do I have to pay the amount owning in my collection account before it moves to my credit history. Also if i pay off the collection will it ever appear in my credit history?
The lender decides if the information will be reported to your credit file. Here’s some information about how late payments are reported on your credit file. I hope this helps.