Information Consumer Credit Reports May Not Contain

Consumer credit report tips: According to credit report laws, here are some items that cannot be mentioned in consumer credit reports: *A discharge or final order in Bankruptcy Court dated more than 10 years prior to the date of the consumer credit report; *Lawsuits and judgments entered more than 7 years prior to the date of the consumer credit report; *Paid tax liens which, from the date of payment, precede the report by more than 7 years; *Accounts placed for collection or charged to profit and loss by the creditor that are dated more than 7 years before the credit report; *Records of arrest, indictment, or conviction of crime that, from date of disposition, release, or parole, precede the report by more than 7 years; *Any other adverse information that precedes the report by more than 7 years; *Default information concerning U.S. Government insured or guaranteed student loans can be reported for 7 years after actions to collect the debt have been taken against certain guarantors.