remove bankruptcy your credit report
How long do negative things stay on your credit report?
I heard it was 7 years. Do these things automatically drop from your credit report, even if they were never addressed or resolved? How does this work? Does it work the same for all negative ratings. Is bankruptcy, foreclosures, evictions, and repossessions, all treated the same, when it comes to removing them?
Per the Fair Credit Reporting Act (Federal law) derogatory accounts show for 7-years from the date of first delinquency which normally works out to 7-years and 180-days.
They should drop off by themselves after this time line expires but if they don’t all you have to do is dispute them with the credit bureaus and they will be removed.
Bankruptcy’s show for 10-years if they are chapter 7 and 7-years if they are chapter 13.
The only thing that differs would be a judgment they show for either 7-years or until the statute of limitations runs out whichever is longer so this varies by State and in some States judgments can be renewed.
As far as good accounts go they can show for as long as the lenders continue to report them, I have several on my reports that are well over 12-years old.
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