Removing Old Information From Your Credit Report

26 Aug Removing Old Information From Your Credit Report

Old notations on your credit report are supposed to be removed after a specified period of time. The problem is that most people don’t know just how long is too long.

Under 15 USC 1681c, a credit reporting agency must remove information that is too old to be reported. Such information that must be removed includes:

  • Bankruptcy: 10 years from the date of entry of the order for relief or the date of adjudication, as the case may be;
  • Civil suits, civil judgments, and records of arrest: 7 years after date of entry or until the governing statute of limitations has expired, whichever is longer;
  • Paid tax liens: 7 years from date of payment;
  • Credit cards, store cards, and other consumer debt: 7 years from the date on which the account was placed for collection or charged off.

So if you’ve got credit information that is nearing the end of the reporting period, sit tight – it should come off soon enough. And if it doesn’t? Then it’s time to consult with a lawyer who knows his or her way around credit reports.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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