Back to Credit Scores, Debt and Loans
Thursday, August 25, 2011 - 10:07 AM
Bad credit isn't a life sentence.
No matter how heavy it feels, bad credit doesn't last forever.
Even if you made a total mess of your financial life at one point, after a certain amount of time, most of those financial mistakes will be expunged from your credit report.
For unpaid or delinquent accounts, the time period is seven years. For Chapter 7 bankruptcies, it's 10 years.
To prevent mistakes, credit bureaus often err on the side of removing bad information a little early....
413 posts since
Oct 15, 2010
Rep Points: 1,702