Why Does Negative Info Stay on Credit Reports for 7 Years?
October 06, 2014
Gerri Detweiler focuses on helping people understand their credit and debt, and writes about those issues, as well as financial legislation, budgeting, debt recovery and savings strategies. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.com.
Under the Fair Credit Reporting Act, most negative information can be reported on credit reports for seven years. But why is it for seven years?
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