There is a very prevalent myth out there that negative credit must remain on your credit report for at least 7 years.
But the fact of the matter is that 7 years is the maximum amount of time—not the minimum.
Any creditor can choose to report or not report for as long as they decide to, provided that it does not exceed 7 years.
The problem is that the longer it shows on your report, the more justification they have in charging you more in higher interest rates, down payments and closing costs.
Take advantage of a free credit repair consultation and find out exactly what your rights and possibilities are.