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I get a lot of questions about how long will a collection stay on a credit report?

It is required under the Fair Credit Reporting Act to be removed seven years after the first delinquency date.

The first time that a borrower was late that resulted in that becoming a charge off or sold to a collection company. The date of first delinquency is the starting point. Seven years from the date of first delinquency is when that account will fall off. It\\u2019s not based on when the creditor wrote the account off or anything like that. It is the delinquency that caused the account to go bad. Seven years from that date, all bankruptcies also come off seven years except for chapter seven, which will stay on credit reports for ten years from the discharge date is when chapter 10 \\xa0will be removed.

Unpaid tax liens will stay on forever, you can\\u2019t beat Uncle Sam. Good accounts will actually stay for ten years after they are closed. Most other accounts come off in seven years except for chapter 7 bankruptcy which goes ten years.

I was in front of the CFPB a while ago in Detroit. We were talking about credit and one gentleman stood up and he said collection companies are selling his debt over and over \\xa0again, collection companies were selling his debt to other collection companies and the\\xa0collection companies\\xa0just keep reporting the same account over and over again....more