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How long neg items stay on biz reports ?

jaxstraw
Valued Contributor

How long neg items stay on biz reports ?

The title kind of says it all.

How long do derogatory items stay on a business credit report ?

Is it 7 years like a personal and are they automatically removed.....or do you have to try and get anything over 7 years removed since it isn't done automatically ?

Or is a different time length ?

I know they operate differently than personal but finding details is a task.

 

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 1 of 14
13 REPLIES 13
hawkins
Frequent Contributor

Re: How long neg items stay on biz reports ?

That’s a good question. Would not have the slightest idea. I have 2 biz cards myself and have not the slightest idea where or how they report it. I do know of course it will show up on my personal credit if I default paying but that’s about it. So I am quite curious also.
Message 2 of 14
LittleSal
Frequent Contributor

Re: How long neg items stay on biz reports ?

I’d be interested to know as well.
Message 3 of 14
jaxstraw
Valued Contributor

Re: How long neg items stay on biz reports ?

Received answer back from Experian.

Quote...."Experian uses standard industry and government guidelines for keeping data on file.

Expiration dates for data ensures that the information presented in our reports is current enough to create an accurate picture of financial health.

Bankruptcies remain on file for 10 years after the filing date.
Judgments for 7 years after the filing date.
Tax liens for 7 years after the filing date.
Collections remain on file for 6 years and 9 months after the last report date.
UCC filings for 5 years after the last filing date.
Bank, government and leasing data for 36 months.
Trade data for 36 months after the last report date.
Credit inquiries for 9 months.

Thank you,

Helpdesk support
www.smartBusinessReports.com

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 4 of 14
LittleSal
Frequent Contributor

Re: How long neg items stay on biz reports ?

Great info! Thanks for posting.
Message 5 of 14
jaxstraw
Valued Contributor

Re: How long neg items stay on biz reports ?

I have an inquiry out to Equifax as well.

I'd assume they would follow the same guidelines but it would be interesting to see what they say if they reply.

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 6 of 14
LittleSal
Frequent Contributor

Re: How long neg items stay on biz reports ?

Yes it will. Please report back!
Message 7 of 14
jaxstraw
Valued Contributor

Re: How long neg items stay on biz reports ?

And a reply from Equifax today......

 

 

I’m following up with you regarding your contact request from the Equifax.com website, regarding your request we report the data as follows:

 

-BK Chapter 7, 9, 11, 12, and 13, if open, converted or dismissed, stay on the file for 10 years.

-BK Chapter 12 and 13, if discharged remain on the file for 7 years.

-Judgements, satisfied or unsatisfied, remain for 7 years.

-Liens, non-released, are always returned.

-Liens, if released, they stay on for 7 years.

 

Please feel free to reach me if you have any questions .

 

(Mod cut)

 

 

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 8 of 14
LittleSal
Frequent Contributor

Re: How long neg items stay on biz reports ?

Nice!

Is it possible to check your own Equifax Business file? I can’t seem to find a way to check mine online.
Message 9 of 14
jaxstraw
Valued Contributor

Re: How long neg items stay on biz reports ?

https://www.equifax.com/business/business-credit-reports-small-business/

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
Message 10 of 14
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