When negative information becomes positive

Dear KYL,

Your credit history is not permanent. Negative information is eventually deleted. Positive information will remain longer, helping you rebuild your creditworthiness if you have had problems.

Experian lists “potentially negative” accounts as a summary in your personal credit report. The key word is “potentially.” The list shows accounts that, based on Experian’s experience, will likely be seen as negative by lenders. Such accounts typically include a record of late payments, have been charged off as a loss, or are collection accounts.

The rule of thumb for deleting negative information is seven years from the original delinquency date. The original delinquency date is the date the original account was first reported delinquent, or late. The original account and any subsequent collection accounts will be deleted at the same time.

So, the negative accounts will eventually be removed from your credit history. To rebuild your credit history, keep one or two accounts active, making all of your payments on time and reduce your debts as much as possible.

Eventually, the negative information will go away leaving you with a pristine credit history.