2007-01-05 10:48:46 · 4 answers · asked by jeremy w 2 in Business & Finance ➔ Credit
I keep reading here 7 years. I think that is for the rating. They appear as history forever, I see them on credit reports all of the time when I bother to look them over.
2007-01-05 10:52:09 · answer #1 · answered by Anonymous · 0⤊ 1⤋
It's not really so important as to how long it stays on your credit report, but how long it negatively affects your credit.
Something can be present on your credit report for years, but have little effect.
You need to focus on re-establishing good credit by avoiding any future mishaps, and making sure you pay everything on time from here on out. Any late payment and you'll be in big trouble.
Even if you re-establish a solid credit score, having some minor lates after a BK or a foreclosure could keep you in the doghouse.
Lenders want flawless history after huge negative events like foreclosures. It makes sense, as they're the ones putting themselves on the line to lend you a mortgage.
Learn more at http://www.thetruthaboutmortgage.com
and http://www.thetruthaboutcreditcards.com
2007-01-05 11:19:03 · answer #2 · answered by Todd S 3 · 0⤊ 0⤋
Well, this one is tricky. I am going to explain something that hopefully may help. OK, if you file for bankruptcy (this includes anything) you have a ten year marriage point; meaning that if you don't get any slow pays, etc. etc.. (you were on your best behavior) mortgage company's will touch you again..mess up and forget it. and as far as how long a foreclosure will stay on your credit report, the answer is sadly about 7 years. not as bad as a bankruptcy, but odds are you had a foreclosure you have had a bankruptcy..this is a good site to explain the laws in your area more clearly
2007-01-05 11:00:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
7 - 11 Years officaly. Though I've always heard it's 7 years.
Click the link below for the exact info from Exquifax, one of the three credit breus.
2007-01-05 10:56:18 · answer #4 · answered by Tex 4 · 0⤊ 0⤋