7 years for judgments. 10 years for bankruptcy. Unpaid tax liens report forever.
I had a client send me the attached copy of her credit report with the hand-written question at the bottom, “Does the Public Record stay on your credit report til you die?” I responded to her directly via text (yes, I text my clients and respond to texts). However, I thought it’d be nice to lay it out in a table I found at myfico.com.
According to www.myfico.com, public records have varying times for credit reporting:
Chapter 7, 11 and 12 bankruptcies remain for 10 years from the date filed.
Completed Chapter 13 bankruptcies remain for 7 years from the date paid, and 10 years if not completed.
Paid tax liens remain on file for seven years from the date released (paid)
Unpaid tax liens remain on file indefinitely
All judgments remain for 7 years from the date filed.
Inquiries remain for 2 years.
California State Residents Only (must be current resident):
Paid or released tax liens remain on file seven years from the date released or 10 years from the date file
Unpaid or unreleased tax liens remain 10 years from the file date
All consumer-initiated inquiries for the purpose of obtaining a loan and/or benefit remain on the file for two years
All other purge rules as noted above apply
New York State Residents Only:
Satisfied judgments remain 5 years from the date filed.
Paid collections remain 5 years from the date of last activity.
Now this doesn’t mean that the judgment is enforceable if you listed it in your bankruptcy and received a discharge. However, they can still report it, and it may still be attached to any real property you own.