Most people think that credit items have to stay on your credit report for seven years or ten years depending on the type of credit item. However, it’s important to realize that this is the maximum time that an item can be listed. An idea may be removed at any time if it’s incorrect, inaccurate, or misleading.
Most consumer credit transactions fall under the seven year limit. This includes credit card companies, mortgage, car payments, and personal loans. However, chapter seven bankruptcy as well as chapter eleven bankruptcy stay on your credit report for ten years.
You can look at the seven year and ten year numbers as the maximum time a listing can remain on your credit report.