Nations Lending works with thousands of borrowers every year, and therefore we look at thousands of credit reports. Our clients often ask the Nations Lending personal mortgage advisors, “How long does an item stay on a credit report?” The safe answer is “it depends.” Most will answer “7 years” which is not 100% correct. Consider the typical derogatory account such as a charge off, profit & loss, or collection will stay on your report for 7 years FROM the Date of Last Activity or DLA on your credit report. DLA is a BIG distinction because it restarts the clock for counting down 7 years. For example, if every 6 years you paid a dollar towards the derogatory account the clock would reset from the date of your payment extending the life of the item appearing on your credit report. Consequently, you would die of old age before the item aged off your report. Additionally, if the derogatory account sells to another creditor you will also receive another 7-year sentence, so the answer “7 years” is just not correct. Even late payments and child support payments stay on credit reports for 7 years until the last scheduled payment. So, if you miss a payment on month 1 of a 30-year mortgage you could face 37 years of this payment reporting late! Civil Judgements are 7 years from the filing date. Chapter 7 bankruptcy (BK) itself is 10 years but the accounts included are 7 years from the discharge date. Chapter 13 BK is seven years after satisfaction or 10 years from the file date depending on the credit bureau’s policy. Federal and state tax liens have NO statute of limitations, once satisfied, then its 7 years. Hard inquiries last two years however the damage only lasts one. Nations Lending takes credit reporting very seriously, and we work with our clients vigorously to understand their credit, and to make sure it is accurate. For further details see the link below for Fair Credit Reporting: https://www.fair-credit-reporting.com/credit-laws/credit-reporting-periods.html.