Closed accounts stay on your credit report for 10 years from the date the account closed.
Any delinquent payments will remain on your credit report for 7 years from the original delinquency date (the date your account was first marked as late). The same is true for most other negative information about an account that might be on your credit report.
Because the credit agencies are very diligent in reporting your late payments, but if you look closely at your credit report.....you will find that only some of your on-time payments show up (depending upon which report you are looking at), usually it just states "no data reported", and that is the fault of the reporting agencies. When you pay your bills on time, they "should" be reporting this to all 3 of the major agencies (Experian, Equifax and TransUnion) but they are lax in this and feel if they only report to one, the rest will get the information, but it does not work this way. It is up to YOU to look at all 3 of your reports, compare them, and make sure that everything is correct and that all three are the same. If they are not then you need to contact these agencies that have not reported a closed account, 9 months of on time payments, or any other discrepancies and have them removed, changed, or fixed. If you have a plan with any company where you get your credit report, they have people available 24/7 just for this type of work, get in touch with them and they will help you fix your credit reports until all 3 are correct, but they will stay with you and help you get things removed, fixed and added until everything is correct. I hope this helped.
You cannot remove closed accounts from your credit report unless they are proven fraudulent. But that isn't necessarily a problem because closed accounts with no negative history will remain on your credit report for up to 10 years from the date the account was closed and will have a positive influence on your credit standing.… read full answer
A closed account with negative history will remain on your credit report for 10 years, too, but most types of negative information associated with the account will fall off the report after 7 years.
If you believe that the closed account isn't supposed to be on your credit report, then you can submit a dispute with the credit bureau. You'll have to explain the error in detail, and even provide evidence where possible.
Closed accounts that are charged-off remain on your credit report for 7 years from the date of first delinquency on the bill that led to the charge-off. All other accounts remain on your credit report for 10 years from the date the account is closed. Any missed payments associated with those accounts will fall off your credit report after 7 years, however.… read full answer
Accounts sent to collections (such as defaulting on a medical bill, phone bill, or loan) will remain on your credit file for 7 years from the original missed due date.
Publically available information that reflects irresponsibility (such as civil judgments and tax liens) generally remains on your credit reports for 7 years.
Bankruptcy information (Chapter 7 & Chapter 11) can remain on your credit reports for 10 years from the date filed. A discharged Chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed, while a non-discharged chapter 13 bankruptcy remains for 10 years.
If you believe that the negative information isn't supposed to be on your credit report, then you can submit a dispute with the credit bureaus either online or by mail. You'll have to explain the error in detail, and even provide evidence where possible.
You cannot remove negative items from your credit report before 7 years. If you believe any of the negative information is accurate, you can and should dispute it directly with the credit bureaus.
The best way to combat the impact of negative information on your credit report is to maintain good credit habits. The impact of any negative information decreases over time, and even the impact of a bankruptcy can be mitigated if you make payments on time, don’t carry a lot of debt, and showcase that you are a responsible borrower. … read full answer
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