Is there a limit to the time bad credit such as charge offs, unpaid medical bills, credit card bills are listed on your credit report? I think there is a limit on the collection time but what about listed time?
2007-01-12 18:52:09 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
Negative accounts - 7 years from date of last activity
Collections - 7 years from date of last activity
Judgements - 7 years from date filed
Tax Liens - 7 years from date released (paid)
Chapter 7 bankruptcy - 10 years from date filed
Ch 13 bankruptcy (discharged) - 7 years from date filed
Good credit - 10 years from date of last activity
New York exception - paid judgments or collections purge after 5 years instead of 7
California exception - unpaid tax liens purge after 10 years from date filed whereas unpaid tax liens in other states report indefinitely
2007-01-13 01:54:51 · answer #1 · answered by RedSoxFan 4 · 0⤊ 0⤋
Most collection time limits expire in 5 or ten years, depending on your state. Most bad credit will fall off at 7 years from the date of the last activity, as it is considered outdated by the credit bureaus. However, if you pay of your debt that is almost at the seven year mark, you may end up with it on your credit report for an additional 7 years.
2007-01-13 02:58:05 · answer #2 · answered by Steven5441 2 · 0⤊ 1⤋
7 years
2007-01-13 02:55:06 · answer #3 · answered by michinoku2001 7 · 0⤊ 0⤋
Once again an amazing collection of almost right answers (and some totally wrong ones....). RedFoxFan is the only correct one in the back.
Note how most of these folks never give sources?
Let me (once again) correct the wrong answers.
Debts are reported on your credit report for 7 years, beginning from the date of the delinquency (NOT the date of the last transaction).
The ONLY debt that last longer on your credit report are bankruptcies (10 years). It makes no difference if it's a charge-off, delinquency, late payment, or in collections.
2007-01-13 12:31:30 · answer #4 · answered by Anonymous · 1⤊ 1⤋
In the US credit reporting is governed by FEDERAL law. your state does not matter. Most negative accurate negative information is reported for 7 years. Bankruptcies are reported for 10.
2007-01-13 08:38:16 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
It is not a state issue, it is federal. But collections, repos, bankruptcy, charge-offs, consumer credit counseling, and public judgments (i.e. you didn't pay your taxes) remain on your history for 10 years.
Bad (late payments, over limits, delinquency, etc.) and good (pay on time, etc.) information remain on your credit history for 7 years.
Inquiries (i.e. new credit applications, etc) remain for 1 or 2 years depending on the nature of the inquiry.
Good Luck.
2007-01-13 04:22:56 · answer #6 · answered by Informed1 4 · 0⤊ 0⤋
7 years in my state.
2007-01-13 02:54:54 · answer #7 · answered by been_there_done_that 5 · 0⤊ 0⤋
yes there is a limit, however the amount of time varies according to the listing, bankrupcy, repo, missed or late payments, etc...and check with your finacial advisor or local bank if you have specific questions regarding your credit or the reporting agencies
2007-01-13 02:57:09 · answer #8 · answered by S W 3 · 0⤊ 0⤋
7 years..
2007-01-13 02:55:18 · answer #9 · answered by CR 3 · 0⤊ 0⤋
Yes, I believe the come off in 7 yrs.
2007-01-13 02:59:33 · answer #10 · answered by Anonymous · 0⤊ 0⤋