How Long Does a Default Loan or Bad Credit Stay on Your Credit Report?

Duration of Late Payments on Credit Report

Late payments can have a significant impact on your credit score, making it important to understand how long they stay on your credit report. Late payments will typically remain on your credit report for seven years from the date of the missed payment.

Closed Accounts with Delinquency

If you have a closed account that was delinquent and had late payments, the account itself will be removed from your credit report seven years from the date the account first became late. This means that even if the account is closed, the negative information will still impact your credit report for an extended period of time.

It is important to make payments on time and maintain good credit habits to avoid negative information staying on your credit report for an extended period.