What To Do About Negative Information In Your Credit Report
Negative information concerning your use of credit can be kept in your credit report for seven years. A bankruptcy can be kept for 10 years, and unpaid tax liens for 15 years. Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Inquiries remain on your report for two years.
Anyone who denies you credit, housing, insurance, or a job as a result of a credit report must give you the name, address, and telephone number of the Credit Reporting Agency (CRA) that provided the report. Under the Fair Credit Reporting Act (FCRA), you have the right to request a free report within 60 days if a company denies you credit based on the report.
If there is inaccurate or incomplete information in your credit report:
Contact both the credit reporting agency and the company that provided the information to the CRA.
Tell the CRA in writing what information you believe is inaccurate.
Under The Fair Credit Reporting Act, the information provider is required to investigate and report the...
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