Back in 1997, I ran into some financial trouble and took out a loan for the balance on a mobile home I once owned. I defaulted on the loan that year, but it is still on my credit report. I wrote letters to the bank and to the credit reporting agencies, and this is still on my credit report. This is the only bad credit/delinquency I've ever had. I would appreciate any suggestions.
michr
Favorite Answer
you defaulted
that does not take it off the banks books
they may carry that forever and continue to report it.
it depends on the bank
but that is so long ago most creditors aren't even going to look at it.
if that is the only problem you ever had it has no effect on your credit score, most creditors would just ask you for a letter explaining what happened if they even noticed it. generally creditors look at the last 3 years of payment history and then look at public records (bankruptcies ) for the last 10 years.
Brigid O' Somebody
I have always been told seven years. But people are complaining that old records aren't getting deleted the way they used to.