Article: The Credit Repair Organizations Act (CROA) And You
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The Credit Repair Organizations Act (CROA) And You
If you have negative information in your credit file, as reflected by the Big Three reporting companies, Experian, Equifax, and TransUnion, proves to be accurate, there is little you can do about it. Only the passage of time will guarantee that information's ultimate removal from your file. The reporting companies will generally list negative credit information for seven years, and bankruptcy information will remain on your report for ten years. The time limits generally begin being counted from the time the event initially took place.
There are other limitations, as well, such as unpaid judgments against you. Those can be reported in your credit file either for seven years or until the statute of limitations for that particular type of judgment expires, whichever is longer....
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