How long does negative information remain on my credit report? | Consumer Financial Protection Bureau (2024)

FAQs

How long does negative information remain on my credit report? | Consumer Financial Protection Bureau? ›

A credit reporting company generally can report most negative information for seven years. Information about a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.

A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in full. Consumer no longer have to get the judgment rescinded in court.

In most cases, a consumer reporting agency may not report negative information that is more than seven years old or bankruptcies that are more than 10 years old.

Under the provisions of the Fair Credit Reporting Act, adverse information—for example, collection actions, charge-offs, suits, and judgments—may remain on your credit report for seven years.

Consumer reporting agencies are required by law to remove most negative information about your account after seven years, which generally means that if you find an item in their report that is older than seven years you should dispute that information.

Most negative items should automatically fall off your credit reports seven years from the date of your first missed payment, at which point your credit score may start rising. But if you are otherwise using credit responsibly, your score may rebound to its starting point within three months to six years.

By law, you can get a free credit report each year from the three credit reporting agencies (CRAs). These agencies include Equifax, Experian, and TransUnion.

The debt will likely fall off of your credit report after seven years. In some states, the statute of limitations could last longer, so make a note of the start date as soon as you can.

Seven-Year Period for Reporting Adverse Information

The FCRA restricts a consumer reporting agency from including obsolete information in a consumer report. FCRA section 605(a)(5) generally prohibits the reporting of “[a]ny . . . adverse item of information . . . which antedates the report by more than seven years.”

Derogatory marks can remain on your credit for up to seven to 10 years or more, depending on what type it is. However, your scores can start improving before that if you take steps to make your credit healthy over time. That can include making at least the minimum payment on time and keeping your balances low.

What is the 609 loophole? ›

Specifically, section 609 of the FCRA gives you the authority to request detailed information about items on your credit report. If the credit reporting agencies can't substantiate a claim on your credit report, they must remove it or correct it.

You generally cannot have negative but accurate information removed from your credit report. You can, however, dispute accurate information if it appears multiple times. Most negative information will remain in your report for seven years. Some types of information remain longer.

Outdated information may not be reported.

In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies more than 10 years old.

Consumer reports may include information about a person's credit history, medical conditions, driving record, criminal activity, and even their participation in dangerous sports.

You are also entitled to a free credit report every 12 months from each of the three nationwide consumer reporting companies—Equifax, TransUnion, and Experian. You can request a copy through AnnualCreditReport.com .

An investigative consumer report is akin to a detailed background check in which your character and reputation are assessed. This kind of report is not usually used to assess creditworthiness, but rather your viability as a potential employee or tenant. It is different from a credit report.

According to the Fair Credit Reporting Act (FCRA), negative items can appear on your credit report for up to 7 years (and possibly more). These include items such as debt collections and late payments. The time frame begins from the original date of the delinquency (the date of the missed payment).

• You may seek damages from violators.

cases, a user of consumer reports or a furnisher of information to a consumer reporting agency violates the FCRA, you may be able to sue in state or federal court.

You can go to the Opt Out List at www.optoutprescreen.com. The opt-out form is also on our Doan website. This will prevent the credit reporting companies from selling your credit information to other companies.

The good news is, positive and neutral information can stay on indefinitely and might help improve your credit score. Most negative information will drop off your reports after seven to ten years, but in rare cases, the info will appear longer than ten years.