Should You Repair Credit History if the Report Expires?

A consumer should repair credit report history when their score is low or it affects their ability to acquire. The question whether an item should be repaired when it is no longer reported depends on the type of credit item it is and how it may affect other credit opportunities for you. When an item expires this means that it is no longer present on a consumer credit report. Often this is the end of the negative item but it may in fact still affect your score and should be addressed.

Typical Consumer Credit Reporting Period

Under the Fair Credit Reporting Act (FCRA) most items typically come off a consumer credit reporting after 7 years. This is 7 years after it was first reported to a credit bureau and not from the last activity date. These items may also stay on a report for the full 7 years, even if it was discharged or paid off.  

Understanding Reported Items

Other items such as bankruptcies stay around for a period of 10 years or longer depending on the state statutes governing credit reporting. Because items may persist for a period of time longer than when it was addressed it is a good idea to at least look at a consumer credit report periodically in order to determine if an item is on your report longer than it should be.