709. How long do negative items stay on my report?
Description
This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.
709. How long do negative items stay on my report?
Personal bankruptcies (ie Chapter 7) may be reported for ten years;
most other kinds of information for seven years. But there's a huge
loophole: the time limits don't apply when you're applying for life
insurance or credit of $50,000 or more, or when you're being
investigated by a prospective employer for a job paying $20,000 a year
or more. (Yes, twenty thousand.) Source: {Your Credit Rating},
rev 1/87.
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