Negative information life on a customer credit report

When you have true negative information on your credit report, it will be removed by passage of time that can be 7 years, 10 years, 15 years or forever. According to FCRA (Fair Credit Reporting Act), Negative information stays on a consumer credit report for seven years but there are some exceptions to this rule for some type of negative information’s.

1. Bankruptcy information may be reported for 10 years from the date of file


2. Criminal convictions related information may be reported without any time limit


3. Delinquency information regarding collections and late payment stays on a consumer credit report for 7 years from the date of delinquency.


4. Charge off remains for 7 years and 180 days from the date of reporting


5. Student loan defaults remain for 7 years


6. Foreclosures remain for seven years from the date foreclosed


7. Lawsuit or judgment stays for seven years from the date of filing


8. Paid lax liens information stays for 7 years from the paid date


9. Unpaid tax liens stay for 15 years


10. Line of credit or loan information stays for 10 years from the date paid in full or close


11. Closed amounts related information stays for 10 years if paid as agreed


12. Credit related inquiries stays for 2 years placed by you and the creditors


13. There is no time limit if credit information is reported in response to an application for job with salary greater than $75,000


14. Credit information reported in case of a application for a credit or insurance of worth $150,000 has no time limit