How long does bad credit stay on my credit report. 7 years. The last 2 years count 70% of your score. Bad credit OR good credit.

Bo Majors. I answer questions free and fast  majors@oskie.com
  • The very first thing, is to get your credit reports and scores then, look for the Date Of Last Delinquency aka DOLD or Date Of Last Activity ask DOLA. Once you find these indicators on your credit report, then you will know how long the bad credit accounts will stay on your reports. So how does bad credit stay on my credit report?.
     
    All credit good and bad stays on your credit report for 7 years past DOLD or DOLA. The bad credit hurts most for the 24 months from today's date. 24 months from today back account for 70% of your credit score. This is why it is SO important to have 3 - 6 lines of current rated credit like credit cards, car loans personal loans and home loan on your credit report. If you do not have any current rated (aka: 12 months payment activity) then your old bad credit will hurt your score indefinitely. It simply is not enough or not getting good credit, by just paying off bad credit. Furthermore, Cell Phones, Satellite, Cable, Gas Bills, Water Bills and Electric Bills are not credit at all unless you do not pay. If you do not pay then utilities are all they can be: BAD CREDIT. So make sure you have 3 - 6 lines of current rated credit.
  • Does paying charge off accounts increase your credit score?
      Yes. IF you have 3 - 5 lines of open rated reported good credit like car loans, home loans and credit cards. NO if you don't. And it might lower your score for 3 - 5 months but will raise it within 1 years for sure because you have reduced your balance to credit limit ratio from 100% to 0%
  • How quick does a credit card show up on a credit report?
     
    In less than 30 days IF THEY REPORT TO BUREAUS! MAKE SURE THEY DO! BUT remember that no credit is rated and helps your score until you have paid on it for 12 months. 12 months payment activity is needed to prove a positive payment history.
  • How long does bad credit stay on my credit report? How long do bad accounts stay on credit report? How long does a charge off stay on ones credit report? How long do bad marks stay on credit report? Credit stay on record how long? How long does bad credit stay on my record?
      7 years from the date of the last activity or date of last delinquency unless you can dispute it, validate it or negotiate it off.

     History from today back 2 years affects your credit report the most or more like 70% of your credit score is compiled by anything on your report 2 years from today back. Anything over 2 years old has less than 35% effect on your credit score. So make sure you have good current rated credit. 
  • How long do collections stay on your credit report?
      7 years past the reported date or date of last activity or past the next time the collection is sold to another collection company. Validate, negotiate all collections!
  • How long will a car loan stay on your credit report after paying it off?
      A car loan or home loan or personal loan will stay on your credit report for 7 years past the date you pay it off. The loan will affect your credit report for the most 2 years past the date you pay it off.
  • How long does it take for your credit report to update?
     Each creditor reports every thirty days which can be from the date the account was started or at the end of the month the beginning of the month and maybe even the middle of the month. Then you have disputes, payments, charged offs and the like. Federal law states that a creditor gets thirty days to respond to a dispute. But a credit report can be updated or get an update in hours, less than 24 hours, the same day, 2 days, 1 week, 2 weeks, 3 weeks, 1 month or 30 days depending on what you are doing. Your credit report will show you are 1 day late on your payment. So expect and demand instant update on your credit report.

Get all 3 free credit scores and all 3 credit reports here
I can't find all 3 scores and reports for free anywhere but here. I would not offer this if I hadn't used it myself and believed in the offer. 1 merged score is not what banks see. Potential creditors get all 3 scores and all 3 reports. We should too.
 

What is effect of charge off on credit?

  • DRASTIC. A charge off can lower your credit score by up to 100 points. Depending on what other good active rated credit you have.

  • How long do it take for a new credit card to show up on my credit report? The new credit card will show up on your credit report in 30 days or less (if they report to bureaus) but there will be no effect one way or the other on your score for 12 months in most if not all cases because it takes at least 12 months to prove that a person can make payments on time. This is called rated credit.

  • How long does it stay on credit report or how long does a 30 days late stay on a credit report? Credit shows up on your credit report for 7 years and 10 years on some matters of law and forever on unpaid liens. The effect is minimized after 2 years. Your credit score is weighted heavily ( 70% ) on the past 2 years from today's date. Everything older than 2 years has limited effect. This is why some credit repair people tell you not to pay collections and stuff if they are old. I disagree. It looks good that you paid, it reduces the debt to credit limit ratio from 100% to 0%, after 6 months your score usually goes up and MANY bank will flat turn you down with unpaid stuff on your credit reports. 

  • How long do charge offs stay on a credit report? 7 Years

  • How many points can my credit score go up in a month? 5 - 300 depending on many factors.

  • How long do inquires stay on your report? how long do charge offs stay on credit history? 7 Years

  • How long does bad credit stay on my credit report. 7 years. The last 2 count 70% of your score. Bad credit, good credit, collections, charge offs, liens, credit cards, bankruptcies, inquires

How long do credit records stay on my credit report?  How long can a credit card charge off remain on my credit report?

  • 7 years for good or bad credit. 10 yrs for law and infinity for tax, or criminal

  • Unless you negotiate with the creditor to have the account updated.

  • Accounts good or bad will be on my report for 7 years past the "date of last activity" listed on the account, record or file.

  •  After 2 years the level of importance is greatly diminished but the accounts remain on my credit report.

  •  Accounts or records within the past 2 years (good or bad) affect my credit rating the most.

  •  If I do not keep open lines of credit my score will vanish in 2 years.

  •  If a credit card company or some other loan company sells my already bad account to a collection agency the 7 years might start again.

  •  If I have good credit that is less than 12 months old or (not rated) then, the account will not help my credit score but will show on my report. 

How long does it take to dispute a credit record? 

  •   It takes 15 - 40 days to complete the dispute and update process.

  •  15 days if my dispute is denied or deemed frivolous.

  •  If the dispute is sent to a creditor for verification and the creditor does not answer, the dispute will take 30 days plus to be removed from my credit report.

  •  My credit will be updated before I get the dispute response letter in my mailbox.

 How long do inquiries stay on my credit report?

  •  Usually three years. After 1 year diminished credit effect. 

  •  More than 25-30 inquiries can lower my score but not by 50 points. 20-25 points max I would guess. No one knows exactly. Even the bureaus don't give

 Quick question for you, though ;you keep saying that things will fall off 7 years after the “date of last activity”. I believe this to be false. This should be 7 years from the “date of first delinquency”. No?  

 depends the credit I guess
 you can have a home or car loan and until you pay the loan off completely 
any 30 day late mark will show 7 years AFTER the loan is paid in full. 
I know it happened to me with Toyota motor credit.
with credit cards the date of the first AND last will show for seven years unless you can prompt them to only report the past 24 months
 with a chapter 13 bankruptcy the BK will show for 7 years after you pay the thing off in full or DLA
 with a collection the DLA
dates can be changed or sold over and over and last for way more than 7 years.
 but as a rule and a credit fact for fair credit reporting. Credit, good or bad, falls off your report 7 years past the date of last activity.


You state:
 If a credit card company or some other loan company sells my already bad
account
to a collection agency the 7 years might start again.

Now, you what you REALLY need to say is that if the collection agency changes
the
DOLA, then they also committed a violation of the FDCPA and you may collect
damages for this violation if you sue them. The date of Last Activity CANNOT
change if the account is sold
-----------------------
on the original account it cannot
but is sold then a totally new date can be started

I guess I should reword that
thanks
-------------------------
No it cannot. You better look that one up again. It is the same debt
and must keep the same DOLA. That has been affirmed in case law.
-------------------------
maybe so in case lBUT
it happens everyday in the thousands, thousands.
and who in their right mind is going to get a lawyer to straighten that out.
it is called duplicate accounts, collections and, original creditors accounts.
they show up twice when sold for pennies on the dollar to a collections company with a new date report.
this starts up the whole 7 year thing again and bam you are screwed.

so what do think a person should say to these people that these things happen to?


  I am Bo Majors and I answer your credit report questions as best I can, free and fast here majors@oskie.com. Since 1998.

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How long does bad credit stay on my credit report. 7 years. The last 2 years count 70% of your score. Bad credit, good credit, collections, charge offs, liens, credit cards, bankruptcies, inquires