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Do defaulted accounts drop off your credit report after 7 years?


user9430961
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I have not looked at my credit report in over 7 years, since I know that I fried it in 2011, when I ran out of money and could not pay my 11 credit card bills anymore.

 

Long story short, I got sued 3 times (for 3 different credit cards), but the other remaining 8 credit cards, I was never sued for. Yet from being sued, I have 3 judgments. I paid off 1 judgment, but not the remaining two, since the credit card issuer has not offered me any reasonable payback plans.

 

Yet I just wanted to find before I get my credit report (probably in June this year, 8 full years after I went into default on my 11 credit cards), should those remaining 8 defaulted accounts have fallen off my report by now (almost 8 years later)? Also, do unpaid judgments stay on your credit report until they are paid?


   

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On 4/27/2019 at 7:09 AM, user9430961 said:

I have not looked at my credit report in over 7 years, since I know that I fried it in 2011, when I ran out of money and could not pay my 11 credit card bills anymore.

 

Long story short, I got sued 3 times (for 3 different credit cards), but the other remaining 8 credit cards, I was never sued for. Yet from being sued, I have 3 judgments. I paid off 1 judgment, but not the remaining two, since the credit card issuer has not offered me any reasonable payback plans.

 

Yet I just wanted to find before I get my credit report (probably in June this year, 8 full years after I went into default on my 11 credit cards), should those remaining 8 defaulted accounts have fallen off my report by now (almost 8 years later)? Also, do unpaid judgments stay on your credit report until they are paid?


   

 

Those accounts can remain no longer than 7.5 years from date you first went delinquent, though credit bureau policy is 7 years.  From what you've written, they should be gone by now.

 

Judgments, at one point, could remain for a long, long time.  I'm not sure if that is still the case.  I seem to think that might have recently changed, but I am not sure.  

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They will generally drop from view, but they will STILL be present in the bureau records except and unless a valid basis exists upon which a deletion is required.  Many people who were subjected to full factual reports always seem to be quite surprised at what shows up...and while there may not be as many full factuals pulled nowadays, they CAN still be ordered in the circumstances outlined in the FCRA

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I believe the defaulted/charged off accounts will remain on full factual reports for up to 10 years after date of first delinquency.  Full factual reports are most often used to evaluate mortgage applications but can also be used for other purposes such as background investigations for jobs with salaries above $75,000 or so per year.

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On 5/1/2019 at 12:14 PM, Burdell said:

I believe the defaulted/charged off accounts will remain on full factual reports for up to 10 years after date of first delinquency.  Full factual reports are most often used to evaluate mortgage applications but can also be used for other purposes such as background investigations for jobs with salaries above $75,000 or so per year.

 

I've had several mortgages and they've never run a full factual.  In fact, it would be rare if they did.  Same for employment.  Unless there are special circumstances, it would be rare.  

 

According to the FCRA, the data can remain forever.  Each CRA may have their own policy.  

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While you're waiting on your hard copy credit reports to be delivered, you can sign up for a service like Credit Karma for no charge.  It's not as accurate or complete as the actual hard copy credit reports, but it should indicate what accounts are still showing on your reports and whether you have any judgments or other public records.  

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