exactly How long information stays on your credit file

exactly How long information stays on your credit file

A credit bureau can only just keep information regarding belated re payments on your own credit file for the period that is certain of.

The precise time varies by:

  • The kind of information
  • The territory or province you reside
  • The credit bureau that developed the report

Good information

A credit bureau may keep information that is positive like payments made on time, in your credit file for longer. Good information shall assist your credit history.

Negative information

Generally speaking, negative information stays in your credit file for 6 years. Nevertheless, specific information may stay for a lengthier or smaller time frame. Negative information can harm your credit rating.

Negative information range from:

  • Missed payments for a financial obligation
  • Bounced cheques
  • Accounts that have been delivered to collections

A judgment is just a debt your debt through the courts because of a lawsuit. Continue reading