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Dear Richard, The default will stay on your credit report for six years from the default date, so it should disappear sometime during 2012. While lenders tend to concentrate on your most recent credit history when assessing new credit applications, a four-year-old default might still cause you problems.ear Richard, The default will stay on your credit report for six years from the default date, so it should disappear sometime during 2012. While lenders tend to concentrate on your most recent credit history when assessing new credit applications, a four-year-old default might still cause you problems.
It can stay on the report a bit longer if it goes to court and the bank gets a judgment against the borrower. Say this happens in 2004, then that stays on the credit report another 7 years until 2011. Bankruptcies stay on 10 years while delinquencies and defaults stay on for 7 years.