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| *Loan,banking and credit>>>credit report |
Does anyone can tell me how long will it take for the negative info. be removed from your credit report? |
When I was at school, I overused my credit cards, and got myself into big trouble. I wasn't able to make payment on my credit cards at that time, so I just let it go. But, it's been almost 6 years since the credit card companies report those debt on my credit reports, I just wanna know are those negative reports gonna stay there forever or they can be removed after certain time. Can anyone help me with that? Thanx! I used to work for a credit reporting agency and from the date of the last "oops" on your report...it takes 7 years to clear. Laws may have changed, I dunno, but you can also write to your creditors and ask them to have your report cleared. They may laugh but its worth asking, just make sure everything is in writing. Also, ask your creditors to remove the views that they put on your report as well, as these can bring your rating down. If your credit report is pulled and checked by creditors too many times, it can reflect badly on your report. Hope this helps! Source(s): Used to work for a credit reporting bureau. Usually seven to ten years is the cut off. 7 years after you last contacted them, might takt up to 10 Seven years is correct, but what noone has mentioned yet is that it has to be seven years from the time the debt was "discharged" - meaning paid off or forgiven. If you have not paid of the debt, the clock hasn't started for you yet. Also, you need to be aware that some will stay on your record indefinitely unil you take the action to have them removed. This is common, for example, if your debt was sold to a secondary company, even though the debt was paid off. The best thing to do is get a copy of your credit report and send registered letters to each creditor and ask them to remove he debt from your record. Good luck. 7 years but you can counter act that with accounts that you have paid on time. Lenders look at the accounts you have in good standing as well as your debt to income ratio. Usually they're supposed to be removed after 6 - 10yrs (providing you haven't had anymore credit mishaps) |
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