im in australia,  does ur bad credit get wiped after 5 years or is that bull shite?
338269
Its actually 7 years.
1141640
Often it is a overall history of your credit, not just a period where someone fell on hard times.  I am with you about it being messed up!!  \n\nExample- \n1) 30 years credit history, 40 closed accounts paid as agreed, 10 open accounts paid as agreed, low balances, declared BK 5 years ago, and had a car repossed 5 years ago.\n2) 3 years credit history, 5 open accounts, many recent inquiries to get approved for any of those 5 accounts.\n\n#1 had a obvious hard ship, and by declaring BK was able to close or discharge some of the derogatory accounts.  In 30 years of reported credit history he has demostrated a willingness to repay his debt, although at one point he had to lose everything by declaring BK.  If 5 years had passed the repo and BK affect his credit less over time.  It is still reported but not harming his fico any longer.  It lowered his fico at one time, but they will not continually decrease his score because of it.   After BK establishing new credit also improves his score.  \n\n#2 Being a new consumer to the credit world, you will need many years of paid as agreed, maintain balances around 40% of your limit, and you need a good mix of open credit.  Mtg, auto, and revolving credit in your file.\n\nI do agree with what your saying, and my job has allowed me to pick the brains of credit experts who clean up and rescore the people with those repos and BK.  I have complained endlessly about my own situation, I had a medical collection for $90 I tried to pay the hospital and they said it was under $100 the legal amount necessary to collect so it was delted from thier system.   4 years later it popped up with a balance of $181 through 3 different debt collectors all trying to say it is thier account I must pay.  The credit gurus I work with, advised me to ignore all 3 collections as it will by law have to be removed in Dec of 2006.  If I paid it, it would begin reporting new for another 7 years as a collection that was paid.
12303
If you're talking about a legal judgement on your credit report, it would be no more than 7 years.  It may be less, depending on your state of residence.
839550
everything is cleared after 7 years. i think it is dated from the last date of activity. like if you make a payment tomorrow, the 7 years would be up 7 years from tomorrow. if you haven't made a payment in 2 years, you still have 5 years left.
572001
Rebuilding my credit and buying my first home only 5 years after ending a disastrous marriage.
753353
banks will throw the papers out after five years, county court judgements stay 6 or 7 years, not exactly sure.\nThese people can provide you with free debt report,\n http://www.kqzyfj.com/6c66ft1zt0GIONPKIMGIHKNNNLI\neasier to do it online (just cancel before the trial is over) or send them 2 quid for a snail mail report (takes about 10 days)\n\nadded: forgot, while the debt is due you'll get letters and more letters and if you are unlucky debt collectors might come knocking at the door.
353378
Don't do it if you can avoid it in any way. Your credit will be shot for a very long time. (not to mention it isn't a very upstanding way to settle your debts)
622925
NOT TRUE!  YOU NEED TO REGAIN YOUR CREDIT, BY BUYING A CAR AT A BUY HERE, PAY HERE. IT WILL HELP YOU RE-ESTABLISH YOUR CREDIT IN TIME, USUALLY A COUPLE YEARS. ALWAYS WHEN BANKRUPTCY HAS BEEN FILED, TECHNICOLY THEY CAN HOLD IT AGAINS YOU FOR 10 YRS.
1055841
If you have had any credit during those ten years then your credit should be just fine.  That is if you have paid on time.  I was in that situation and after 10 years my credit score is in the top 78% of the country.
972175
is that good credit or bad?
833944
If the ccj is paid up then you can write to the court and tell them this. You have to pay £15 and they will mark next to your name that it is all paid. But they will not remove it  unfortunately as i have just had to do this. After 5 years it will come off anyway. But at least creditors can see that you have paid it.
675618
Cleaning up old credit issues take time as effort on you part.\nDepending on your credit history, it may take 6-12 months \nBe persistent and don’t give up.\n\nIf you feel you still need help email me and I will guide you to your next step.
960288
Yes it is. Bankruptcy is a good thing. The only bad thing about it is that it stays on your credit for 7 years.
510801
The government sends Guido and his boys out to find you and break your legs.  \nSeriously, if you did that, your credit isn't going to be worth sh*it for a long, long time.
613175
Yes its true, but only if it has been resolved.\n\nIf you resolve it today, it will disappear in the year 2013. If its STILL unresolved and its STILL past due, then your credit is just going down down down and it will never go away until you take care of it.
653128
If they dont report the information to the credit bureaus it does not affect your credit.  Going 7 dollars over does not effect your credit if paid within the 30 day period
245293
Negative credit accounts are reported for 7 years from the date of last activity. Are you talking about accounts showing as "charge offs"? If so, then it will stay on your file for 7 years from the date of last activity.\n\nI would love to help with more specific answers. You can e-mail me with the details of your situation at creditguru@earthlink.net