How Long Does Information Stay on Credit Reports?

How Long Does Information Stay on Your Credit Report?

This is a common question and recently Terri Williams, of Consumer Information Solutions, shared some useful information on this topic. Here’s what Terri had to say, “I recently had a client call me about trying to dispute a bankruptcy that was still reporting on their credit report. The reason why information displays on a consumer’s credit report is simple – all three credit reporting bureaus; Equifax, TransUnion and Experian are governed by the Fair Credit Reporting Act and Equal Credit Opportunity Act which dictate how long information stays on a credit report. It’s not the credit bureau’s decision.”

Here is a timeline for how long information stays on a credit report

Type of Activity        

Open accounts in good standing

Closed accounts in good standing

Late or missed payments

Collection accounts

Civil judgments

Chapter 7, 11, 12 bankruptcy

Chapter 13 bankruptcy

Unpaid tax liens

Paid tax liens

Credit inquiries

Number of Years


10 Years

7 Years

7 Years

7 Years

10 Years

7 Years

10 Years

7 Years

2 Years

“The answer to my clients question about why the Bankruptcy was still being displayed on her account was simple –  it was a Chapter 7 and the 10 year period was not up. Filing a dispute would have been a waste of the consumer’s time and probably cause further frustration.

In the case of a paid collection, the collection will still display but it should show a zero balance and paid-in-full status. It will drop off after seven years from the Date of First Delinquency (DOFD).  Here’s an example:  A consumer goes delinquent on an account in January 2014 and it becomes a collection, the DOFD is January 2014 and the clock starts. If the consumer pays the collection in full in June of 2016, the collection will STILL display with a paid-in-full status until January 2021.”

It’s our mission to help members achieve financial success. Stop by any UKFCU branch and we will be happy to see if we can help you lower your rates on home loans, auto loans, or credit cards.

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