The FCRA ( Fair Credit Reporting Act) determines how long do different kinds of negative information stay on your credit report. Most of the negative information stays on the credit report for a minimum of seven years however there are exceptions.
These are some of the common negative information that can find their way on a credit report along with the period of time that they can stay on your credit report.
- Delinquency information such as late payments and collections to stay on a credit report by period of seven years from the date of delinquency.
- Charged off accounts will stay for seven years +180 days from the date reported to the credit.
- Student loan default stays or seven years.
- Foreclosures will stay for seven years.
- Lawsuits are judgments stay for seven years from the date of filing.
- Bankruptcy, 7 to 10 years.
- Paid tax liens seven years from the date paid.
- Unpaid tax liens stay on the credit report for 15 years.