Consumer Blog
Negative items on your credit report
Missouri consumer writes:
I have company appearing on my credit report for late rent on an apartment my daughter had in Ill in 2005. I did co-sign for the lease. The report has no contact information listed. What is the time-bar for this type of debt?
Under federal credit laws, negative items may stay on your credit report for up to seven years. The exception is bankruptcy, which can stay for up to 10 years. The Federal Trade Commission offers this summary of your rights under the federal Fair Credit Reporting Act. Note: there are credit repair scams out there. Be suspicious of anyone who promises they can remove accurate negative information from your credit file. The best way to improve your credit is to begin now with good behavior, like paying your bills by the due date. In time, your credit will reflect your good work.
Technorati Tags: Credit report, bad credit, bankruptcy, credit file, credit repair, negative credit, moagoconsumer, consumer protection
Posted by on October 29, 2007 9:36 am :: Comments (4) :: Permalink
4 Responses to "Negative items on your credit report"
says:
May 13, 2008 2:29 pm
are there any rules that a subdivision has to provide any financial information to the residents of the subdivision about the disbursement and whereabouts of the subdivision fees
says:
May 13, 2008 4:02 pm
To Robert:
In general, if your assocation is a nonprofit corporation, it must disclose its financials.
says:
June 27, 2008 12:39 pm
Is it legal for a collection agency to buy an old debt and report it to the credit reporting agencies when it is already on your credit report?
says:
July 8, 2008 10:00 am
Dear Tad: I'm not sure why they would do that if the debt is already there, but you can file a consumer complaint with our office.
