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Why do some items on your credit report never come off?

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2009-01-23 08:05:07
2009-01-23 08:05:07

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Some things like filing for a bankruptcy never come off easily from your credit report as such an incident is considered as you are not able to manage your finances and lenders later see this as a risk.

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Unpaid items and negative information stays on your credit report for up to 7 years. Debts such as unpaid taxes or student loans in default will never come off until paid up current or in full. Remember items that are unpaid do not suddenly become unowed after 7 years they just cease to report on your credit bureau.


To determine your credit worthiness and history.


Bankruptcy can stay on your credit report for up to 10 years. If you obtain the credit report directly from the credit reporting agency (ie. Equifax, Transunion, Experion) the report will provide you with directions on how to dispute the information.


yes you can definately report it.Every year, you can request a free report from any of the three credit. if you come to know and something is wrong You can improve your credit report legitimately and that can be beneficial.


Yes late payments can come off your credit report. They can be removed by either the original creditor that put it on there or by the credit bureaus. You can dispute late payments on your credit report with the credit bureaus using the Fair Credit Reporting Act. The FCRA requires the credit bureaus to contact the creditors to verify the late payment. If the late payment isn't verified it must be removed.


No, but if she defaults on the loan then you will have to pay the amount due or suffer the consequences on your credit report.


Yes, addresses come up on a credit report. Generally, the most recent four addresses are represented on a credit report - the current address and the three prior addresses. Not all credit reports are up to date, however, so there may be less recent addresses in the credit report and it is up to the individual to update the credit reporting agencies. IN the United States there are three (3) credit reporting agencies and every citizen is allowed to get a free copy of their report from each agency on an annual basis. Be sure to check your credit report from each provider at least once per year and request updates to addresses that are out of date.



Information in a credit report comes from banks, mortgage lenders,credit unions, credit card companies, insurance companies, landlords, department stores and employers.



For P&L items Debit is what has gone and Credit is what is come. and for B/S items majorly Debits are our assets and Credits are our liabilities.


There can be no specific answer, as credit scores are based on the person's entire credit history.


An instant credit report will almost always cost you money. Depending on your circumstances and how quickly you need this credit report, it may be more worthwhile to send an application to a proper credit reporting agency. There are several instant credit report companies on the Internet and they are not always certified. You may equally be able to get an instant credit report from a proper credit reporting agency. This may come by fax or e-mail. It is not a very common practice to obtain instant credit reports more than once.


Identifying Information.Your name, address, Social Security number, date of birth and employment information are used to identify you. These factors are not used in credit scoring. Updates to this information come from information you supply to lenders. Trade Lines.These are your credit accounts. Lenders report on each account you have established with them. They report the type of account (bankcard, auto loan, mortgage, etc), the date you opened the account, your credit limit or loan amount, the account balance and your payment history. Credit Inquiries.When you apply for a loan, you authorize your lender to ask for a copy of your credit report. This is how inquiries appear on your credit report. The inquiries section contains a list of everyone who accessed your credit report within the last two years. The report you see lists both "voluntary" inquiries, spurred by your own requests for credit, and "involuntary" inquires, such as when lenders order your report so as to make you a pre-approved credit offer in the mail. Public Record and Collection Items.Credit reporting agencies also collect public record information from state and county courts, and information on overdue debt from collection agencies. Public record information includes bankruptcies, foreclosures, suits, wage attachments, liens and judgments.


Use sites such as consumer and consumerfinance. They come up with great strategies and places for a free credit report. Also check in with local authorities like the police to guide you to a great path for credit report.


Ten years after the date of discharge.


Typically, you have to wait 7 years for the charge-off to come off your credit report. But, if the account is incorrect, incomplete, misleading, or unverifiable, it may be deleted much sooner.


Seven years is the standard for anything that has been settled to stay on your credit report. So the normal type of bankrupcy, Chapter 13 I believe, will be off the report after seven years.


it currently takes 7 years for something to come off of your credit report


It can not be erased. If it has been paid, it will come off your credit in 7 - 10 years. If you still owe money on it and they report monthly that you owe an amount, it can stay indefinitely. If you owe money, but they are not reporting it monthly to the credit agencies, it i will come off in the 7 - 10 years.


Only if it is a judgement. If they never sued you, then after 7 years, it will come off of your credit report, and you are no longer liable for the debt.


Bankruptcy only impacts your credit for 7 years. Contact Experian, Transunion, Equifax to get it removed from your credit report. Addresses and phone numbers to all 3 are avail. on internet,


No, judgments typically remain on your credit report for 7 years. I work in the industry and can see judgments on peoples credit that have been there since the late 70's. It is all public record and will never complete go away until a satisfied judgment is certified and recorded with your local court house.


Bankruptcies (both Chapter 7 and Chapter 13) remain on your credit report for 10 years.


No contacting an experian credit expert will not help you improve your credit unless you have discrepancies on your report. Which would consist of things you have not purchased, or addresses you have not lived at. They can only tell you what is on your credit report the improving need to come from paying off back debts and creating new lines of credit.



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