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    nightsurger's Avatar
    nightsurger Posts: 1, Reputation: 1
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    #1

    Dec 20, 2007, 11:37 AM
    Credit reporting times on bad debt.
    Hi,

    A while ago about 1999 I had gone through a really nasty divorce and ot stuck with a bunch of bad debt. They were all reported about this time and I am having a hard time finding info regarding time limits for reporting to my credit bureau files. I have some showing up still from over 7 years ago. How long can bad debt/collection items show up on my credit reports? As well when does the statute of limitations say that the bad debt/collection items can no longer be reported? As in the expiery when they can no longer report it to the bureau and I guess after that how long it takes to fall off. If there is such information I need to know the referance to actual legal chapter and title to resolve some issues. This is for in Canada, the province was Ontario where the debt was occoured.

    Thank you,
    Matthew
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Dec 20, 2007, 02:01 PM
    Quote Originally Posted by nightsurger
    Hi,

    A while ago about 1999 I had gone through a really nasty divorce and ot stuck with a bunch of bad debt. They were all reported about this time and I am having a hard time finding info regarding time limits for reporting to my credit bureau files. I have some showing up still from over 7 years ago. How long can bad debt/collection items show up on my credit reports?? As well when does the statute of limitations say that the bad debt/collection items can no longer be reported?? As in the expiery when they can no longer report it to the bureau and I guess after that how long it takes to fall off. If there is such information I need to know the referance to actual legal chapter and title to resolve some issues. This is for in Canada, the province was Ontario where the debt was occoured.

    Thank you,
    Matthew
    I believe in the US it stays on the credit report for 10 years.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Dec 21, 2007, 06:48 AM
    Hello night:

    In the US, regular old bad credit falls off after 7 years of no activity. Judgments come off after 10 years.

    Even though that's what's SUPPOSED to happen, it doesn't necessarily happen WITHOUT certain prompting. You may very well have to set up a dialogue with the Canadian Credit bureaus. When you order a copy of your credit report here in the US, they also send information concerning how to challenge the data if it's incorrect. I'd begin doing that very thing.

    After some thought, it wouldn't surprise me if Canada used the same credit bureaus the US does. I don't know.

    Again, in the US, our law is the Fair Credit Reporting Act. Maybe you can Google Canada's equivalent.

    excon
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