Credit Myth #2

Myth

  • The credit agencies are required by law to keep derogatory items on your credit report for 7 to 10 years.

Tuth

There is no law that the credit agencies report anything on you at all. Just the opposite is true! Credit Agencies are required by law to automatically remove all derogatory items older than 7 years or in the case of a bankruptcy, 10 years.

http://www.MyCRD.org

 

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