after an account is closed how long can it stay on your credit report
How Long Do Late Payments Stay on Your Credit Reports? Like collection accounts, late payments can remain on your credit reports for up to seven years and also have a negative impact on your scores. But, also like collection accounts, they too have less impact as they get older. It’s good to keep in mind that not all late payments are equal. Helpful to 73 out of 90 people. If your account was closed in good standing, there is no law requiring it to be removed from your credit report. It could stay on your credit report indefinitely and may help your score. If the account was closed and had been delinquent then it should drop off in 7 years. Reply by. That collection account can remain on your credit report for 7 years plus 180 days from the date your bill was due in March. Here’s the part a lot of people don’t like: Whether or not you paid the collection account, it can still stay on your report for that 7-year (plus 180 days) period. Even if closed, the accounts that have no late payment history remain on your credit report for 10 years from the date closed. As long as the positive information remains, it contributes to a stronger credit history. So, removing those accounts early actually could be harmful to your credit scores. Late payments can be reported for up to 7 years from when the delinquency occurred. Say you missed a credit card payment several years ago, and you still use that credit card. After that late payment is 7 years old, that delinquency legally cannot be included in the history of that account on your credit report. Here are some guidelines about how long different types of data can stay on your credit report:  1 Derogatory (negative) information can stay on your credit report for up to seven years. 2  Bankruptcies can appear for 10 years. 3  A foreclosure appears for seven years. A collection account can remain on your credit report for 7 years plus 180 days from the date of the delinquency that immediately preceded collection activity. Let’s say you were really inconsistent with your cable bill — you missed it in January but caught up in February, only to miss it again in March and April. Helpful to 8 out of 8 people. In general, derogatory items stay on your credit report for 7 years and 180 days (as per the 1996 Consumer Credit Reporting Reform Act) after the last negative activity on the account. There are some exceptions: Bankruptcy - 10 years. Paid tax liens stay for seven years. Unpaid tax liens can remain on your report indefinitely, however often credit reporting agencies will remove them after 15 years. (In 2011 the IRS announced a new program which allows you, in certain circumstances, to get the tax lien off earlier. See How to Remove a Tax Return From Your Credit Report.) If the accounts have negative information in the payment history, they will remain on your credit report for seven years from the original delinquency date of the account. The original delinquency date is the first missed payment after which the account was not brought current.
10 years from the date closed.