Old Debt Doesn't Belong: Help Your Credit Score by Removing It from Your Report

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Old Debt Doesn't Belong: Help Your Credit Score by Removing It from Your Report

Nov, 2nd 2016

There's no doubt that bad credit wreaks havoc on your life, but the good news is that it doesn't last forever. Bad credit scores only remain bad if you don't take steps to improve your financial life. If you do, these mistakes will disappear from your credit report over time.

How much time? For unpaid or delinquent accounts, the time period is 7 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, says Norm Magnuson, vice president of public affairs for the Consumer Data Industry Association, a trade association for credit reporting companies.

Worried there may be mistakes on your credit report?

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