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Posted in Auto Loans
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rdww

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Cosigner of defaulted auto loan how long does this stay on credit report?
This defaulted before I new it.

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How long?

It depends on the type of negative information. Here's the basic breakdown of how long different types of negative information will remain on your credit report:

  • Late payments: 7 years
  • Bankruptcies: 7 years for completed Chapter 13 bankruptcies and 10 years for Chapter 7 bankruptcies.
  • Foreclosures: 7 years
  • Collections: Generally, about 7 years, depending on the age of the debt being collected.
  • Public Record: Generally 7 years, although unpaid tax liens can remain indefinitely.

Keep in mind:
For all of these negative items, the older they are the less impact they are going to have on your FICO® score. For example, a collection that is 5 years old will hurt much less than a collection that is 5 months old.

You can also ask for the information to be verified for accuracy.  If the information isn't 100% accurately reported it can be removed.  I'd recommend speaking with a credit expert about that.  If you need furtehr assistance, just click on my name and my contact info is there.

Sincerely,

Joe Orsak

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