Your Credit


Building a good record
What laws apply?
Credit histories for women
Maintaining credit records
Negative information
Old information


Old Information

Sometimes credit information is too old to give a good picture of your financial reputation. There is a limit on how long certain information may be kept in your file:

  • Bankruptcies must not be reported after 10 years. However, information about any bankruptcies at any time may be reported if you apply for life insurance with a face value over $150,000, for a job paying $75,000 or more, or for credit with a principal amount of $150,000 or more.
  • Suits and judgments paid, tax liens, and most other kinds of unfavorable information must not be reported after 7 years.

Your credit record may not be given to anyone who does not have a legitimate business need for it. Stores to which you are applying for credit may examine your record; curious neighbors may not. Prospective employers may examine your record with your permission.


Next page



Home      Program Search      Home Buying Process      Consumer Issues      Education      About MHP

This site is sponsored by the MIAMI Association of REALTOR®
Copyright © 2012 Kansas City Regional Association of REALTORS®