Racism 101: Are you a Racist?

Items that have been placed in collections, public record or bankruptcy are listed first.

Most will also list what date they can be removed from your report. The two dates you need to know are 7 years and 10 years. Remember, just because it CAN be removed, doesn’t mean that it automatically will be. This is another good reason to check all three reports every year.

Not all states require information to be listed for the 7 or 10 year maximum. However, there are no states that currently require more than the 7 or 10 years. 

Almost everything listed on your report will fall under the seven year time line. The ten year maximum is usually held for things like Bankruptcy (Depending on which chapter filed) and certain public records. Most other things, good or bad, will fall under the seven year category.

Each bureau has a slightly different look to their reports but they all house the same information. 

• The contact information of the bureau itself 
• Name of each company (Within 7/10 year frame if negative) that extended a line of credit
• Amount of time you had an account with the company or if current
• How you paid (on time, 30 days late, 60 days late, 90 days late or 120 days late)
• How many times you paid on time or late
• The address and phone number of each company (In case you need to contact them)
• Current and Prior addresses
• Current and Prior Employer
• Current and Prior Phone numbers (This is not listed on all reports)
• Inquiries (Hard and Soft)

Each bureau is required to remove negative information within 30 days of the 7 (or 10) year period. However, this is not a fool proof system. Checking to make sure negative items have been removed in a timely manner is up to you. 

Positive information can remain on your report forever. You can have it removed (as long as it is outside of the 7/10 years) but there is rarely (if ever) a reason to do so.  

The next post will explain what you should and shouldn’t dispute on your reports.