greets all
i heard that after 7 yrs, anything bad on credit report is removed, even if not filed for bankruptcy,,,
any ever heard of this? if so, i might be in the red soon woohoo
orbi
credit bureau questions, canada
by orbison11 1 Replies latest jw friends
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Rod P
Orbison 11,
Yes, that is true. It's called the "Statute of Limitations".
Creditors have up to seven years to sue a person. If they don't by then, they have no further legal recourse.Also, credit reporting agencies must remove anything reported to them by a Creditor that comprises information on you that is more than seven years old.
Rod P.