How many years does a bad credit score remain on your credit profile?

Answer 1

Good thing I saw this question early....saves me the time of pointing and laughing at all the incorrect answers.

I think what you are asking is how long negative items say on your credit report. That is 7 years, beginning from the date of the delinquency....NOT from the date it's paid off or discharged as stated in the previous answer.

EDITED: Isn't it simply amazing!?!

I answer the question, post the exact part of the law to prove it...state how I love to point and laugh at all the incorrect answers to this very same question.....

And the next two answers STILL answer it wrong!

...HAHAHAHA!!!!

I think you two deserved that.

Answer 2

The actual credit scores may change monthly. Once a collection is paid and shows paid on the report then the scores start going up as time goes by. Each month getting better. New accounts make the score go down for the first 90 days. The longer the good accounts out way the bad, the less the bad has an adverse impact on your credit. Below is the fair credit reporting act from the Federal Trade Commission and is designed to explain the rights that consumers regarding their credit report. Remember, as a consumer you are entitled to one free credit report per year. I put the websites below, go directly to them, other "free" credit report because of them will want you to sign up for some service. You don't need that.
Hope it helps

Answer 3

Your credit score "recycle" every 90 days. If you have positive bills in your name, pay them on time and do not miss a payment. If you do not have any open credit, get a credit card from Orchard Bank (they will approve anyone). Pay that on time and keep at least half of your credit limit untouched. For example, if your credit limit is $250.00 do not charge over $125.00. FICO actually look at how much debt you have in compare to how much available credit you were given. It's all a numbers game. Last but not least, pull your credit report, if there are any collection items, see if you can make a settlement. BUT, negotiate to only make the settlement if they remove it completely off your credit. You will be surprised, but some will actually do that. Good luck to you.

Answer 4

I think for 7 years but am not very sure. Why not improve your credit score? But How to improve credit score? To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your scoreyou still have to pay to find out your credit score, the three-digit number ranging from 300 to 850 that is the key to your borrowing costs.

Answer 5

I agree with what Studly posted.

I just wanted to add that the reporting period for negatives is not 7 years + 180 days from the DOLA as another poster mentioned.

The Johnson FCRA Staff Opinion Letter explains it very well.
To quote a small portion of it --
2. The additional 180 day period accords a measure of flexibility to credit bureaus whose furnishers may provide them with the wrong date. However, the expansion of the time period that Section 605 allows chargeoffs and similar actions to be reported accents the desirability of treating the "commencement" of the delinquency as the "first" missed payment -- not some later date that would further extend the period.
http://www.ftc.gov/os/statutes/fcra/johnson.shtm

More FTC info on reporting and time limits --
http://www.ftc.gov/bcp/conline/pubs/buspubs/infopro.shtm

Answer 6

Negatives stay on your credit report for 7 years and 180 days from date of last activity (DOLA), usually the date the debt was 30 days late or charged off. Paying it off will not alter the reporting period.

Answer 7

Your credit score changes pretty much every day. How long it takes for yours to increase depends on how low it is, and what you are doing each month to improve it. Are you using credit wisely? Have you paid off your old debts? Are you making ALL your paments in time?

Answer 8

7 for credit
10 for bankruptcy

Answer 9

7 from the time it is paid off or discharged :(