It depends on the type of negative information. Here’s the basic breakdown of how long different types of negative information will remain on your credit report:
- Late payments: 7 years
- Bankruptcies: 7 years for completed Chapter 13 bankruptcies and 10 years for Chapter 7 bankruptcies.
- Foreclosures: 7 years
- Collections: Generally, about 7 years, depending on the age of the debt being collected.
- Public Record: Generally 7 years, although unpaid tax liens can remain indefinitely.
- Inquiries: 2 years, the first 12 months effect the score however inquiries that are not attached to open accounts that remain on your file could effect a decision makers perspective of your good intentions.
- Personal Summary: Forever if not updated or modified.