How Long Do Negative Items Remain On A Credit Report?

If you have late or negative items on your credit report, in general expect them to remain for a span of seven years.  There are, however, some exceptions:

• Bankruptcy information can be reported for 10 years.
• Information reported because of an application for a job with a salary of more than $20,000 has no time limitation.
• Information reported because of an application for more than $50,000 worth of credit or life insurance has no time limitation.
• A lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out (whichever is longer).
• Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.
• Tax liens stay on your credit report for 7 years from the date PAID.

If your situation doesn't match any of those exceptions - during the 7 years when the negative item is on your report we've got a big tip.  Be sure to order a free copy of your credit report once a year and review it thoroughly - checking for any inaccuracies or accounts that appear to be fraudulent.   That's the best way to avoid any detrimental credit surprises!

Learn more in the "Credit Education" section of our website.