Registered Nurse RN

Registered Nurse, Free Care Plans, Free NCLEX Review, Nurse Salary, and much more. Join the nursing revolution.

  • RN
    • Nursing Clinical Skills
  • Nursing Videos
  • Blog
  • Nursing School
  • Nursing Care Plans
  • Nursing Quizzes
  • Nursing
  • Nursing Jobs
  • NCLEX Review
  • Store

Are Credit History Reports Permanent?

Are credit reports permanent? The consumers who thought that those two late payments on the mortgage from year ago were gone should think again. Credit history is a very important factor that lenders look at to determine if they should lend credit to consumers. The information contained in credit reports is not permanent but every negative piece of information on a credit report has a specified time before it is removed. The good news is that good payment history can help to improve those temporary negative aspects of credit history.

Negative Credit History Issues

The majority of the information contained on an annual credit report stays on for 7 years. Positive information and personal data does not have a set time to remain on a credit report, but consumers want anything positive to remain on their credit history reports as long as possible. Negative credit issues have a set time that they remain on credit reports. The negative records include:

  • Credit Report Inquiries – When lenders pull credit reports, the information can remain for up to two years. Inquiries seem harmless but too many can lower a credit score. For those who are straddling between good credit and bad credit, inquiries can make a significant difference.
  • Bankruptcy – Some call this the 10-year mistake. Bankruptcy can hurt credit for up to 10 years for a Chapter 7 bankruptcy and up to 7 years for a Chapter 13 bankruptcy. Each record on the credit report that is marked as “included in BK” can remain of a credit report. Lenders generally do not lend to consumers during this time.
  • Tax Liens – This negative issue is probably the worst of them all. Tax liens linger on credit reports a very long time after they are paid. A paid tax lien can remain on a credit report for up to 7 years from the time consumers pay off the lien and 15 years or more for unpaid liens. Getting into a sticky credit situation can make a huge difference in getting approved or denies credit.
  • Charge-offs – These are the accounts that have not been paid in 120 days (installment loans) or 180 days (revolving debt). Charge-offs cost lenders, and they keep the negative information regarding these accounts on lenders’ credit for up to 7 years.
  • Judgments – Once judgments are paid, consumers have to endure the negative information on their credit reports for up to 7 years.
  • Collection Accounts – These accounts are the ones that lenders hand over to collection agencies to try to collect the money. 7 years from the time that consumers made the final payment on their original accounts is how long the information remains on the credit report.
  • Late Payments – These payments remain on credit reports for up to 7 years from the time the late payment was made.

No, payments history does not remain on credit history reports permanently. Some of the lenders may be willing to negotiate with lenders to remove some of the negative payments histories once the accounts are paid in full or settled. It is always a good idea to contact lenders to find out if this is an option. Lenders can restore their credit history by making payments on time.

Please Share:

  • Click to print (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • More
  • Click to share on Reddit (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on Skype (Opens in new window)
Nursing Gear

RSS Latest YouTube Videos

  • Weight-Based Dosage Calculation #shorts for Nursing School & NCLEX
  • Alzheimer's Disease (Dementia) Nursing: Symptoms, Treatment, Stages, Pathophysiology NCLEX
  • PPE Donning Order Sequence Nursing Tutorial #shorts
  • Depolarization and Repolarization of Heart: Action Potential (Atrial & Ventricular) Animation

Recent Posts

  • Depolarization vs Repolarization of Heart Action Potential Explained
  • Alzheimer’s Disease (Dementia) NCLEX Nursing Review
  • Alzheimer’s Disease Dementia NCLEX Quiz
  • The Great Saphenous Vein
  • NCLEX Study Plan

Disclosure and Privacy Policy

This website provides entertainment value only, not medical advice or nursing protocols. We strive for 100% accuracy, but nursing procedures and state laws are constantly changing. By accessing any content on this site or its related media channels, you agree never to hold us liable for damages, harm, loss, or misinformation. See our full disclosure and privacy policy. Copyright Notice: Do not copy this site, articles, images, or its contents without permission.

Important Links

  • Advertise
  • Contact Us

Follow Us on Social Media

  • Facebook Nursing
  • Instagram Nursing
  • TikTok Nurse
  • Twitter Nursing
  • YouTube Nursing

Get Free Email Updates:

Enter your email address below and hit "Submit" to receive free email updates and nursing tips.

Copyright © 2022 RegisteredNurseRN.com. All Rights Reserved.