It will stay on your credit report for 7 years.
Think of 7 as "the number of completion". This goes back to Old Testament days, and has been carried over for thousands of years. In those days debts were forgiven if not paid in full by the 7th year.
Negative info on credit reports can stay on for 7 years. After enduring the 7 year penalty , you will be able to start over without the negative info on your credit report.
Kawain Payne, Realtor
Prudential California Realty
Yes, it will stay on your record for that long.
What are you wanting to do? If you want to buy a place most lenders will want you to wait 2 years before you can buy again Email me your particulars and I can answer them more clearly or just give a call. Talk to you soon
Ingrid Ski Realtor