Top 10 elements having negative effect on credit report

When you are working hard to get out of debt, we have to keep in mind some elements that can have negative impact on your credit score. It is always suggested to get your annual free credit report from all of three bureaus Equifax, Trans Union, and Experian.

1. Delinquencies (30-180 Days From Date Of Missed Payment) Remain for 7 years


2. Closed Accounts (No Longer Available, Negatives remain for 7 years, Positives remain for 10 years)


3. Collection Accounts (7 years from original delinquency Date


4. Charge Off Accounts (7 years from date of initial missed payment)


5. Bankruptcies *chapter 7, 11, 12 remain 10 years, Chapter 13 for 7 years)


6. Civil Judgements (7 years from filing date)


7. Tax Liens (cities, counties, states, federal government remain for 15 years, paid remain for 7 years)


8. Child Support Liens (remain for 7 years from filing date)


9. Lost Credit Cards (delinquent payments appear from date card was reported lost)


10. Credit Inquiries (remain for 2 years)

Negatives are eventually purged from your credit reports.