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Reporting Negative Information
Credit Repair Organizations Act
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Credit Repair Companies with
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Reporting
Negative Information:
Accurate negative information generally
can be reported for seven years, but there are exceptions:
- Bankruptcy information can
be reported for 10 years;
- Information reported
because of an application for a job with a salary of more than $75,000 has
no time limitation;
- Information reported
because of an application for more than $150,000 worth of credit or life
insurance has no time limitation;
- Information concerning a
lawsuit or a judgment against you can be reported for seven years or until
the statute of limitations runs out, whichever is longer; and
- Default information
concerning U.S. Government insured or guaranteed student loans can be
reported for seven years after certain guarantor actions.
Credit
Repair Organizations Act
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