How long does a negative entry stay on your credit report,is it from date of last activity or date accnt opned

Answer 1

While most negative credit information remains on your credit report for a maximum of 7 years, some information remains longer. According to the three credit reporting agencies and the Credit Reporting Law of 1996, different types of credit information generally remain on your credit file as follows:

(1)Credit Accounts - Negative information remains for 7 years from the initial missed payment that led to the delinquency. Keep in mind that active positive information can remain indefinitely.

(2) Collection Accounts - A collection account remains for 7 years from the initial missed payment that led to the collection.

(3) Public Records - Chapter 7, 11 and 12 bankruptcies remain for 10 years from the date filed. Completed Chapter 13 bankruptcies remain for 7 years from the date filed, and 10 years if not completed. Tax liens remain for 7 years from the date filed if paid and remain for 15 years if not paid. All judgments remain for 7 years from the date filed.

(4) Inquiries (these are creditor not consumer inquiries) -
Inquiries remain for 2 years.

(5) Special Cases -
New York State Residents Only: Satisfied judgments remain 5 years from the date filed, while paid collections remain 5 years from the date of last activity.

California State Residents Only: All tax liens remain 7 years from the date filed.

So keep in mind that the type of debt that you have on your credit file, will determine the length of stay on your credit file. Also there were some special provisions of the Credit Reporting Law regarding amounts, ex. negative information can be reported longer than 7 years for credit transactions over $150,000. So I hope this helps but you can always find more information on the FICO website below.

PS. Please be careful of the individual below who states that with a dispute, negative information can be removed. It is correct that negative information has to be verified by the credit bureau within 30 days, and believe me they will verify. The only thing you will get is a response from the bureau saying that "the information has been verified as accurate, and WILL remain on your credit file". Creditors keep information on file regarding bankruptcy for the period of the bankruptcy especially if you file a Chapter 13 (restructered payment plan). Don't be fooled to think that it's that easy to have accurate negative information removed, in fact this could be considered fraud if you knowingly dispute information that IS accurate.

Answer 2

AndyV is at least close to the right answer
Per the FCRA (Fair Credit Reporting Act), negative items will stay on your reports for 7 years PLUS 180 days (7-1/2 years) beginning on the DATE OF FIRST DELINQUENCY that immediately precedes placement for collection and/or charge-off.

The DOFD is the date that Congress used to establish a 'date certain' for reporting negative entries. That date MUST be reported by the creditor to the bureaus within 90 days of the delinquency. I think Equifax is the only CRA that actually puts this DOFD on your reports. The others you must call them and ASK for this date.

If a creditor or collector changes that DOFD date, they are illegally re-aging the debt and that is a violation of the law, it's called 'running the statute' - you can sue them for it if you can prove it.

You can dispute anything on your reports that is inaccurate, you might get lucky and have a few things deleted.

Answer 3

None of the above answers are correct.. A negative entry only stays on if you don't dispute it. Even Bankruptcy can be removed if all associated accounts are no longer reporting.

Here's the thing. The credit bureaus have thirty days from the time they receive your dispute to verify the information. or they must delete it from your report. They cannot verify accounts that are no longer on record. Very seldom does a creditor keep your account active for more than two years unless you owe them money.

If you do owe a creditor money, you can settle with the creditor, with the stipulation that all negative information be removed.

After filing bankruptcy, for instance, there is no reason for a creditor you keep you in their files for long. They are not going to get anything from you. When the credit bureaus contact them to verify, the creditors no longer have your account in their files.

It is appalling that so many people take it for granted that they can do nothing to repair their credit

Answer 4

I agree about the items staying on your credit report for 7 years. BUT, I am having this problem right now --- I had an identy theft in 1999 - 2000. Two credit card comapnies reported to a collection agency (this is how I found out I had these credit cards). The collection agency(s) keep selling the info to another collection agency & tey sell to another collection agency, etc, so my report now shows I owe like $20,000 total from 2 credit cards (which limits were $300 & $2000!). It has been 5 years now tat I have tried to arguee & got a lawyer & nothing has appened because whoever got the credit cards knew my information (I'm sure it was someone I knew who got these cards, but I can't prove it.

I have found out from a friend wo works with mortages, that these collection agencies can just keep selling your info & it can stay on your report forever!

Answer 5

It will stay on your credit report for seven years from the last date of activity. However, I would highly advise you to pull all three of your credit reports and make sure there are not duplicates (if you have a credit line it can be sold to another company and both can show as active accounts) or incorrect information on your reports.

Answer 6

A negative item will stay at least 7 years from the date the negative activity occured.

Answer 7

According to an attorney. About 7-10years depending on what It's about. The count down from this starts with the date of "The Action Taken". Or should I say ....If It's a credit card... the delinquent acct. If It's bankrupcy....7-10 yrs.

Answer 8

It should fall off after 7 years. If the original agency you had the account with refers it over to a credit agency, the time table resets itself. There is legislation on the table right now to make that illegal. Check your credit report, and if anything is over 7 years old you should open a dispute.

Answer 9

7 years from the date that you the entry was made on your credit report.

Answer 10

Date of last activity