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Seven Year Credit Reporting Period
Seven Year Credit Reporting Period
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Lexington Law can help you understand your financial strengths and weaknesses. Our free credit repair consultation includes a complete review of your credit report and credit score. Call today at 1-888-502-1260 to take advantage of the no-obligation credit repair offer and recommended solutions to fix bad credit.
If you have credit card debts, unpaid loans, defaulted on other bills or have had outstanding debt that you have failed to pay a creditor, it will be reported to a credit bureau.  If this information is accurate, it will remain on your credit report for 7 years. Creditors have a right to report these types of unpaid debts.

Can You Remove Items on Your Credit Report During The 7-Year Period?

If your credit history is accurate, you cannot remove items from your credit report during this 7 year period.

If you feel that there has been an error on your credit report, you can contact the credit bureau to update your credit report. Always check your credit report to make sure there isn’t any inaccurate information on your credit report.

Your credit score is a very important part of your financial profile. The best thing you can do to keep negative items off of your credit report and avoid them from remaining there for the 7 year reporting period is to pay all of your debts, bills and loan payments on time. If you apply for a mortgage or other type of loan, a good credit history will open provide more opportunities for you.

The Fair Credit Reporting Act (FCRA) requires most information over 7 years old to be removed from personal credit reports. Although most information is removed automatically sometimes negative information is overlooked. Consider sending a letter to the credit reporting agencies requesting they remove the outdated information. In many cases, the removal of outdated information can improve your credit score.

Can Bad Credit be Deleted?

Yes, it can. Despite the fervent proclamations of bureaucrats and credit bureaus everywhere, a simple fact remains: negative credit listings are deleted from peoples' credit reports by the thousands each and every day.

A few years ago, an attorney from Lexington Law. visited with a regulatory agency for a casual conversation with two agents. The Agency's office, as a matter of course, believed the credit bureaus' claim that bad credit couldn't be deleted. The visiting Lexington attorney asked, "How many negative listings would you have to see deleted from consumer credit reports before you would believe that bad credit can be deleted: ten? fifty? a hundred? one thousand?" The agents responded with only blank stares.

"How about 50,000 deleted listings, would that convince you?" continued the Lexington attorney. From his briefcase he pulled a stack of papers six inches high.

"In these pages, we have listed the permanent deletion of over 50,000. listings from our clients' files in the last two years alone," he explained. The agents pulled the stack across the conference table and began to pick through the pages, taking in the massive list.

"But have you deleted any bankruptcies?" shot back one of the agents, "we know that bankruptcies can't be deleted." The Lexington attorney leaned across the table and ran his finger down the first page.

"There's one deleted bankruptcy... and, there's another,... and another,... and another. Should I go on?" asked the Lexington attorney.

The agents sat back in their chairs. "You know," began the junior agent, "I have this one listing on my credit report that simply must belong to somebody else..."

How is credit repair possible?

The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of "completeness and accuracy." When a consumer files a dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor's own computer record. If, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing. Learn More.



7 year credit reporting period

   
 
Seven Year Credit Reporting Period
 


 
Seven Year Credit Reporting Period
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Consumer credit counseling service 
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Consumer Credit Counseling Information, Debt Management Plan Information, Debt Settlement Plan information, Credit Counseling, Credit Score, Consumer Credit Counseling Service, CCCS, Bill Consolidation, Credit Repair, and Debt Consolidation is not advice, and we recommend you consult a licensed credit counseling agency, debt settlement attorney, and/or licensed debt management plan administrator in your state if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.

Consumer credit counseling service

Consumer credit counseling service