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Credit Report
Negative Information Lenders Look For in Your Credit Report
- Some negative information lenders look for in your credit report are:
- Late payments
- Recent credit inquiries
- Overextended credit
- Paycheck garnishments
- Liens
- Bankruptcy
How Long Can a Consumer Reporting Agency (CRA) Report Negative Information?
- A CRA can report negative information for seven years. There are certain exceptions:
- Information about criminal convictions may be reported without any time limitation.
- Bankruptcy information remains in a consumer report 10 years from the filing date.
- Information reported in response to an application for a job with a salary of more than $75,000 has no time limit.
- Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.
- 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.
- For more information go to the Federal Trade Commission (FTC) website at www.ftc.gov.
What is a credit report?
The Fair Credit Reporting Act (FCRA)
Your Access to a Free Credit Report
Other Rights to Free Credit Reports
Credit Repair - Scam Artists - Be Aware
Negative Information Lenders Look For in Your Credit Report
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