How Long Until Bad Things get Erased from a Credit Report?

Question

I've heard that after so many years things get "erased" off your credit report. Is that true?

If it is, how long does it take for a bankruptcy to get erased from a credit report? Also, how long does it take to get other things erased from a credit report (ie: auto repo, delinquent accounts, etc)?

Also, if and when something gets erased from a credit report, does the credit score go up afterward since it's (the delinquent account, auto repo, etc) no longer on the report, or does the score remain the same?

Thanks. :-)

Answer 1

Hey geniuses, do some research sometimes before handing out a half-@zzed answer:

# How long will the accounts I included in my bankruptcy remain on my report?

# Any account included in a bankruptcy remains on your personal credit report for a maximum of 7 years from the date the bankruptcy was filed. The bankruptcy itself, listed in the public record information section of a credit report, remains for either 7 years from the filing date if it was a Chapter 13, or 10 years from the filing date if it was a Chapter 7, 11 or 12.

Answer 2

It takes 7 years for all accounts except bankruptcy. 10 years for bankruptcy. However, just because you pay the debt doesn't mean that it is not a negative account and it does not change the date that they remove it from your credit. If it is a collection account they go 7 years from the date it was posted on your credit so if you pay it it will not make it go away any faster nor will it make it longer for it to come off your credit.
Also the last 2 years of activity good or bad is what affects your credit the most. Hope this helps!!!

Answer 3

Most of that would take seven years to fall off your credit. Your score will go up, but you will probably have to re-establish credit and pay some bills on time before it will be good.

If you haven't declared bankruptcy yet, there are other options to explore that may be less painful to your credit.

Answer 4

7-years for credit cards, collections and judgments, 10-years for bankruptcy's and installment credit like repossessed vehicles. And yes once something bad drops off your credit, your score goes up.

Answer 5

Bankruptcy takes 6years to come "off" but its still technically there, when you try and get a mortgage they will ask about or any sort of huge credit applications, and for other stuf fit usually takes about 3 years to come off yeah your credit rating will go up when there off as long as you stick to monthly payments, but they will technically never be erased

Answer 6

From an actual report.....probably never.....on the grounds that 'no information is wasted'.

How long stuff can affect your ability to get credit is another question.....6 years I think.

Answer 7

7 years, except for bankruptcies, which is 10 years.

Answer 8

10 years for bankruptcy.

Answer 9

in the USA it takes 7 years for things to be erased

Answer 10

Usually 7 yrs but you can clean it up with credit counseling