Faqs On Bankruptcy Part2

Unfortunately the answer is no. Once-delinquent, past-due accounts still show up as severe negatives even if they have subsequently been paid off. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or a charged off listing does a great deal of damage to the credit score even if it was paid off.

Do negative items remain listed for at least 7 years?