Hi,
I would like to know how long does it remain in your credit history if you are blacklisted for some reason. For example, you haven't paid a bill or penalty. In such case, it goes to the debt collection section. If they failed to collect money then the guy is blacklisted.
Is the person remain blacklisted forever? Is there any time period after that he becomes normal. I heard many different opinions from various sources. Few says 5 years, 10 years, 20 years, etc. But personally, I think he should remain blacklisted forever. Because there is no reason or time period to forgive his debt. Can anybody tell the correct information? Also, it will be helpful to read if there is any law about it. Thanks in advance!
p.s: I think Tax is a very special case. Tax is never forgiven in any case. It is also a personal opinion.
How long does negative information remain on your credit report
Re: How long does negative information remain on your credit report
source: suomenpt.fi/luottotiedot/Monesti tiedustellaan sitä, miten puhtaat luottotiedot on mahdollista saada takaisin. Maksuhäiriömerkintöjen säilytysajat vaihtelevat 2-4 vuoden välillä riippuen merkinnän tyypistä sekä siitä, tuleeko tuona aikana uusia maksuhäiriömerkintöjä
Re: How long does negative information remain on your credit report
Hi,
Thanks for the information. By google the translation help, I could understand that It depends on the payment type. And it could take between 2-4 years. So the conclusion is that whatever it the payment type, it could take maximum 4 years. No more than 4 years. Do I understand correctly? Please correct me if I misunderstood it.
By the way, an additional question on how to check someone's credit history? Is there any known service?
Thanks for the information. By google the translation help, I could understand that It depends on the payment type. And it could take between 2-4 years. So the conclusion is that whatever it the payment type, it could take maximum 4 years. No more than 4 years. Do I understand correctly? Please correct me if I misunderstood it.
By the way, an additional question on how to check someone's credit history? Is there any known service?
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Re: How long does negative information remain on your credit report
Debts do eventually expire after which they can't be collected.
https://www.finlex.fi/fi/laki/ajantasa/2003/20030728
Keeping debts alive forever doesn't make sense because the debtor has less incentive to work.
Taxes actually expire faster than other types of debt.