The following types information will hurt your credit rating. Unless the information is inaccurate, only the passage of time can remove these items. Most negative information regards debt payments that are late or entirely defaulted. Accurate negative information generally stays on your report for seven years with the exceptions noted below.
- Bankruptcy information may be reported for 10 years.
- Credit information reported in response to an application for a job with a salary of more than $75,000 has no time limit.
- Information about criminal convictions has no time limit.
- Credit information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.
- Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.
- 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.
If you feel that information on your credit report is inaccurate, contact the reporting agency.