Credit report questions?

Question

1. How long do public records, inquires, as well as derogatory items stay retained?

2. Do we update new employment record or will the agencies gather that information?

Answer 1

7 years from the date of last activity is how long it will stay reported. the activity could be a payment by you or the delinquent accounts sold to a collection agency both of those are instances of activity.
agencies will gather the info and update

Answer 2

Good evening,

To answer your first question: Some items stay on your cbr longer than others, depending on what state you reside. Public records can stay from 10-20yrs [including bankruptcies, and judgements]. Inquires generally stay on 2yrs. The worst derogatory item concerning collections is a R9. Meaning your account was sold off. That stain will remain on you cbr 3-10, depending on your state. Ohio is 15yrs for a sold account. Check online under 'state restrictions'. It should give you a list of your rights [good and bad] concerning collections and credit.

Secondly, you do not have to update your employment information. This information comes from a number of sources you unknowlingly volunteer.

Hope this helps!

Answer 3

Some of the posters are in the ball park, others are not even playing the same sport! Here is the real answer:

1. Public records will stay on your report depending on what they are.
~Bankruptcies will stay on your report for 10 years from the date of filing.
~Judgments will stay on your report for 7 years from the date of payment.
~Liens will stay on your report indefinitely if unpaid. If paid, they will stay on 7 years from the date of payment.
~Derogatory accounts will stay on your report 7 years from the date of original delinquency.
~Closed or inactive accounts will stay on your report 10 years from the date of last activity.
~Inquiries will stay on youre report for 2 years.
*Keep in mind that with the public records, the length of time also depends on in which state you reside. Normally, it is the amount of years given above OR until the statute of limitations runs out, whichever is LONGER.

2. Where employment is concerned, your employer will report to 1, 2 or all three credit bureaus about your relationship with them. Sometimes, they do not report at all. That's not something the consumer updates.
I hope that helps!

Answer 4

They stay on record for at least 7 years, or 7 years from the last date of recorded info. You can send information to them to update or they may get to info from a new inquiry.

Answer 5

Public records--- well as long as you have a balance then you will have public record

inquires---- if you keep having people pull your credit then you will always have inquires. but there is nothing wrong with having inquires as long as you dont have 20 people pulling your credit in one month

derogatory item---- welll until you pay for the items it would be on there

Answer 6

Good credit stays for 10 years. Bad credit stays for 7 years, but as long as you pay it off it will show that you paid your debt. It doesn't show your employment information. It does show your address which is something that you don't have to update. They update it on their own.

Answer 7

1. Typically items stay on your credit report for 7 years, but can be as long as 10.

2. Credit agencies retrieve this information from credit applications and such. There is no need that I am aware of to contact them regarding employment.

The average US credit rating is 680.

Answer 8

i'm thinking which you're screwed. you are able to touch the agencies and with any luck they might record an replace on your record yet different than which you would be able to no longer do something. while you're finding to purchase a automobile or some thing often you are able to confer with the non-public loan officer and clarify the discrepancies however the only situation you're able to do is wait 7 years for it to fall off. thank you US credit reporting equipment and it being privatized.

Answer 9

i deal with credit repoerts for a living so i can tell you inquiries are on there for 2 yrs..derogs 7 yrs and bks 10 yrs now if you have state or irs liens those will haunt you forever..with derogs its 7 yrs from the last date of activity ie charge of many companies will sell off the acct to collections every couple of yrs to extend the 7 yrs they cant do that you can dispute it i have for my clients and won..also be sure when you have your credit pulled its for a good reason if your buying a home try to do it within a 30 day period so it does not affect your fico as much when it goes to a lender.

Answer 10

1. 1 year inquieries all otehrs 7 years.
2. They update employer information as it becomes avaible. you can alsways write to the repostories and notify them at no charge.