How Long Do Derogatory Items Stay On Your Credit Report?

derogatory items on credit report

Every derogatory item has different reporting lengths for your credit report. In this post we’ll cover how long derogatory items stay on your credit report, including these derogatory items:

  • Bankruptcy
  • Tax Lien
  • Judgement
  • Foreclosure or Repossession
  • Charge-offs
  • Collections
  • Late Pays
  • Inquiries
  • Closed Accounts

Here is how long derogatory items stay on your credit report:

Bankruptcy

A bankruptcy is a public record that lists the date filed and date discharged. Accounts included on your credit report will show as BK accounts.

How long a bankruptcy reports on your credit report: 10 years from the date field for Chapter 7 bankruptcy, Chapter 11 bankruptcy or Chapter 12 bankruptcy. 7 years for Chapter 13 bankruptcy and 7 years for BK accounts.

Tax Lien

A tax lien is a public record relating to your state or federal taxes. Tax liens can stay on your credit report longer than any other type of derogatory item.

How long a tax lien reports on your credit report: 7 years from the date paid. There is no maximum time for unpaid tax liens.

Judgment

A judgment is a public record relating to a decision made by the courts that was filed or awarded.

How long a judgment reports on your credit report: 7 years from the date filed.

Foreclosure / Repossession

A repossession is when a creditor takes back property you used to secure a loan. Foreclosures apply only to real estate.

How long a foreclosure or repossession reports on your credit report: 7 years

Charge-offs

After a debt (usually a credit card) has been unpaid for 180 days, by law it must be ‘charged off’ by the creditor. They may report a balance (still trying to collect) or a $0 balance (sold to collection agency or gave up on the collection).

How long charge-offs report on your credit report: 7 years from initial missed payment to the original creditor leading to charge-off.

Collections

Original creditors often sell or assign your debt to collection agency. If you apply for a mortgage, they usually require you to pay these off. A paid collection is almost as negative as open.

How long a collection reports on your credit report: 7 years from initial missed payment to the original creditor leading to collection.

Late Pays

You are reported as “late” for being greater than 30 days late on a payment.

How long late payments report on your credit report: 7 years from missed payment.

Inquiries

When anyone requests a copy of your credit report, this is considered an inquiry.

How long an inquiry reports on your credit report: 2 years

Closed Accounts

A closed account is a positive account closed by you or the creditor.

How long a closed account reports on your credit report: 10 years from the date closed.

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