How Long Does Bad Credit Stay on My Credit Report?

Many people ask how long bad credit stays on your credit report.  There is no set answer, but there are a few things to consider that we can share with you. As you work to repair your credit score, you will need to take into consideration the fact that you most likely will have some bad credit showing on your credit report at some point.  These thoughts and tips will help you navigate this to help repair your credit score.

How Long Does Bad Credit Stay On My Credit Report?

First you want to start by getting your annual free credit report.  We have some tips on how to get that free credit report for you to begin with. Once you have it in hand, you can evaluate if you have bad credit to deal with.

Bad credit is usually removed from your report within 7 years.  At the very most, any bad credit is required to be removed from your credit report after 7 years.  However, some creditors may choose to remove bad marks on your credit report once that has been repaired.  That means if you have paid off the debt or a negotiation has been settled.

• Late payments, revolving or installment debt can be on your credit report or up to 10 years from the date of the first late payment.  This means that if you pay that credit card bill or car payment late next month, it could potentially stay on your credit report as a bad mark for up to 10 years.
• Liens and judgments filed against you remaint for 7 years after they are filed in court.
• Foreclosure and bankruptcy will both remain on your credit report for 7 years after filing
• Credit checks can remain listed on your report for up to 7 years, but are usually removed in 1-3 years.

Building your credit isn’t just about paying off bad debt.  Ther are many factors to consider when you are paying off bad debt.  Most notibly, you will fnd yourself needing to remember that too many credit checks and items that haven’t been resolved properly can lead to credit not being extended.  There are a lot of factors to consider, and here are a few things to keep in mind.

• Too many credit checks on your credit report make you look desperate for credit and are a red flag to lenders.
• Negotiated credit reduction by closing accounts and having part of a balance forgiven can look bad to lenders.
• Revolving credit is when a debt remains unpaid and continually bad debt for extended periods of time.
• Income not being eough to pay off current debt leads lenders to feel uncomfortable adding more to your debt situation.
• Student debt can be be good for your credit score when paid in a timely manner, or bad for your credit score when not paid as required.

If you are curious about how long bad debt stays on your credit report, the average is going to be 7-10 years.  For most people, this time period is plenty of time to get your income and financial sitution in control to pay off all bad debt and begin repairing your credit score and credit report for future lending needs.

Comment below and let us know how you fixed your own credit score.