Auto Finance: How long does my auto loan information stay on my credit report?
Credit reporting agencies (CRAs), like Equifax, Experian and TransUnion, decide when, how, and for how long the information furnished to the CRA will display on your credit report. CRAs determine how long they will report information about a specific account (i.e., tradeline), as permitted by law. Late payment information could remain on a credit report for up to 7 years; account statuses in certain situations (e.g., bankruptcy) could remain on a credit report for up to 10 years.
Of important note, delinquent payment history is not deleted from your credit report once you become current, pay your balance in full, or settle an account for less than the full balance owed. In other words, your past negative payment history is not replaced by future positive payment history. This is one reason why it is very important to make every monthly payment on time.
Articles in this section
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- Auto Finance: How long does my auto loan information stay on my credit report?
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