If you have a charged off credit card will it only stay on your credit report for 10 years?

Answer

All derogatory credit, including late payments as well as account written to profit and loss (which show on your credit file as either an R9 for Revolving Charge off or I9 - Installment Charge-off) can be removed after 7 years.

Bankrutpcy Chapter 7 - stays on for 10 years.

You must be proactive at the 7 year period to insure that it does get removed, as it does not always fall off by itself.

You must obtain your credit report, then go through the standard dispute process.

But the good news is, it is very easily accomplished as the 7 year period is mandated by regulation.

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First answer by David Gelinas. Last edit by David Gelinas. Question popularity: 51 [recommend question]


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