How long does information stay on a credit report

Having a bad credit score generally can be a major hindrance in life, particularly when certain large purchases need to be made such as a new car or even a house.

Generally for that reason, whenever the opportunity arises to amend or affect how long certain elements or pieces of information remain on your credit report, it’s always wise to fix them.

In general, lenders will put less equity in things that happened more than 2 or 3 years ago, although on the other hand if you were previously declared bankrupt you may find that it may take 5 or 6 years to start having credit again.

Here are some of the main items that can be found on a credit report, and how long they tend to stay on there in general:

• Credit agreements – 6 years from the date that the account was settled.
• Searches – 1 year for credit application searches and 2 years for debt collection searches.
• CCJ’s – 6 years from the date of judgment / decree
• Bankruptcy – 6 years from the original registration date
• IVA’s – 6 years from the original registration date, as long as it is no longer current
• Electoral roll – Indefinitely