2006-10-01 03:04:30 · 10 answers · asked by Kate G 2 in Business & Finance ➔ Credit
It's amazing.....every single answer is wrong.
Even more amazing...I've posted this same answer dozens of times!
OK, once again...
According to the Fair Credit Act Section 605, any adverse credit item on your report must be deleted after 7 years, beginning form the date of the delinquency.
This law applies to ALL credit reporting agences, not some.
Paying off the debt has nothing to do with getting it removed.
The ONLY item that stays on for 10 years are Bankruptcies. So the answers about up to 10 years for some items is basically wrong too.
Do your research people! You do more harm then good when you are trying to help!
2006-10-01 07:50:11 · answer #1 · answered by Anonymous · 1⤊ 4⤋
For six years after the account which you have defaulted on has been fully cleared. Although if you clear the defaults it will show on your credit record that you have done so.
2006-10-01 12:23:24 · answer #2 · answered by Andy S 2 · 2⤊ 0⤋
Normally 7 years, but some can remain 10 years.
2006-10-01 12:20:12 · answer #3 · answered by KrissyD 1 · 2⤊ 0⤋
At least 6 Years, some are up to 10 Years
2006-10-01 10:13:25 · answer #4 · answered by terrinshez 2 · 2⤊ 0⤋
Up to 7 years depending on the credit agency
2006-10-01 10:11:41 · answer #5 · answered by parrothead2371 6 · 2⤊ 0⤋
6 years plus
2006-10-01 10:05:27 · answer #6 · answered by Scatty 6 · 1⤊ 0⤋
up to 6 years, even if you clear the balance in that time, it is the balance at the time that they default you on as well.
2006-10-01 11:29:19 · answer #7 · answered by Rebz 5 · 2⤊ 0⤋
Six Years. I joined credit expert online and can check how my credit rating is going..
2006-10-01 10:28:46 · answer #8 · answered by lelly 2 · 2⤊ 0⤋
at least 5 yr but it'll show if you've cleared the default balance
2006-10-01 10:10:33 · answer #9 · answered by kj 5 · 2⤊ 0⤋
Its currently 6 years but I think some are able to hold it for upto 10years.
2006-10-01 10:24:53 · answer #10 · answered by babybitch69 3 · 2⤊ 0⤋