| Everyone knows your credit report contains personal | | | | indefinitely. |
| information about you and a detailed credit history. | | | | - Paid Tax Liens - May be reported for up to seven |
| However, you may not be aware of other information | | | | years from the date of payment. |
| that can make its way into your file that can | | | | - Lawsuits and Judgments - May be reported for up to |
| significantly impact your life and ability to get credit for | | | | seven years from the judgment entry date against |
| a very long time. | | | | you or until the governing statute of limitations expires |
| Credit-reporting agencies use private companies to | | | | whichever is longer. |
| search public records for potentially damaging public | | | | - Overdue Child Support - May be reported for up to |
| information. The amount of time this adverse | | | | seven years. |
| information can remain in your file varies. Here are | | | | - Student Loans - Negative information regarding |
| some guidelines on what to expect. | | | | government insured or guaranteed student loans can |
| - Delinquent Accounts - Can be reported for up to | | | | be reported for much longer than seven years. |
| seven years after the date of the last scheduled | | | | Adverse information can be reported beyond the usual |
| payment before the account became delinquent. | | | | time limits if you apply for $150,000. or more of credit |
| - Accounts Sent to Collection - Accounts charged off | | | | or life insurance, or if you apply for a job with an |
| may be reported for up to seven years. The | | | | annual income of at least $75,000. However, most |
| seven-year period begins 180 days after the last | | | | credit reporting agencies remove all items after seven |
| missed payment that led to the collection action or | | | | to ten years. |
| charge-off. The clock does not start ticking again if the | | | | Since credit reports notoriously contain inaccurate, |
| account is sold to another collection agency, you make | | | | incomplete, or out-of date-information, you must review |
| a payment, or you file a dispute with the credit bureau. | | | | your file from each of the three national |
| - Bankruptcies - Can be reported no longer than ten | | | | credit-reporting agencies for accuracy at least once a |
| years after the date of the last activity. Usually this | | | | year. If you identify mistakes, you have the right to |
| date is the date you receive your discharge or the | | | | have them corrected by the credit bureau in a timely |
| date your case is dismissed. | | | | manner. However, it is your responsibility to report any |
| - Criminal Records - Indictments, arrests, and most | | | | errors to the credit-reporting agencies and hold them |
| other criminal records can be reported for only seven | | | | accountable for erasing such adverse items from your |
| years. Criminal convictions however, can be reported | | | | file. |