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How Long Does Information Stay On My Credit?

If you have what might be viewed as "negative" information on your records, you may be wondering how long it will show up on your credit report. Read on for some important information about how long these instances will last on your credit report. 

  • Criminal records, including indictments or arrests, can stay on your report for seven years at minimum. If the statute of limitations is longer, the records will stay on your report until it runs out. If you have been convicted of criminal activity, it may remain on your report indefinitely.
  • Accounts sent to collection, or, similarly, repossession, can stay on your report for up to seven years, with an additional 180 days from delinquency. Whether your account was sent to collection within your creditor or to a collection agency, these criteria apply.
  • Bankruptcy, whether chapter 7 or chapter 13, can stay on your account for no more than 10 years. If you filed but your case was dismissed, the ten-year time period will begin on the date of dismissal.

These, among others, may feel like mars on your credit. However, it's important to remember the person you are now is not necessarily the person you used to be. Maybe you once struggled to pay bills but have gotten your life back on track with the help of filing for bankruptcy. Believe it or not, bankruptcy can actually be seen as a positive on your credit report, especially if you show steady improvement. Talk to a New Albany bankruptcy attorney for more information.

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