2007-07-18 13:37:18 · 4 answers · asked by Biggz 2 in Business & Finance ➔ Credit
No, your credit history is on an ongoing basis. Late payments generally fall off after three years. Judgments and foreclosures are usually on there for seven years. Bankruptcies can stay there for 10 years. There is no point where everything gets wiped clean, unless it just happens to all fall into place like that.
2007-07-18 13:47:20 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
Negative information will drop off after 7 years except for judgments and bankruptcies which remain for 10. Good items will remain there forever since a long stable credit history is key to a high score. I've got good things on my credit history that are decades old now. (And all of the old bad junk is log gone!)
2007-07-18 20:51:43 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Derogatory accounts (charge-offs, collection) will fall off your credit report in 7 yrs. The 7 yrs. starts at the first delinquency that led to the charge-off or collection activity.
Judgments will also fall off in 7yrs. from date of entry.
Bankruptcy is 10 yrs.
2007-07-18 22:11:55 · answer #3 · answered by Celeste 6 · 0⤊ 0⤋
The word is expunged. Hopefully, you're coming along on that spelling of werds.
Accounts age off if they are closed. The aging is usually 7 years. It could be 10 years for serious derogatory accounts
2007-07-18 20:55:06 · answer #4 · answered by Anonymous · 0⤊ 2⤋