​This answer was based on a Q&A by John Roska, an attorney/writer whose weekly newspaper column, "The Law Q&A," ran in the Champaign News-Gazette.

Question

How long can information appear on my credit report? Will paying off a debt remove it from my report?

Answer

The time that information will show up on your credit report can vary. The federal Fair Credit Reporting Act (FCRA) says how long specific types of information can be part of a credit report. Most information about delinquencies can show up on credit reports for 7 years. A paid tax lien on real estate can be reported for seven years from the date of payment.   Bankruptcies generally can be reported for 10 years. Other types can be reported forever. For some purposes, reports are permanent.

Paying a delinquent debtor a judgment doesn't remove it from your credit report. It can stay there for that 7 years from when it was overdue , or from the date of the judgment.

FCRA also allows credit bureaus to choose to include information even past the time limits. But only when the credit report is going to be used for specific purposes. For example, when the report information is being used to determine eligibility for loans or life insurance policies for at least $150,000, or for a job with a salary of at least $75,000 a year. . But there is no requirement for the credit bureaus to keep providing such information past the deadline. The law allows them to do so if they choose. Anything could be reported forever.

Paying off a delinquent debt or a judgment doesn't mean it will disappear  from your credit report. It still can remain there for the timeframe allowed by FCRA.  

The credit bureaus and furnishers have an obligation to report accurate information. This doesn't include doing a pay for delete. The only exception would be if the furnisher tells you they'll delete the debt after payment. Usually, only collection agencies offer this service. If a  company says they'll do a pay for deletion, it's important to get it in writing. You can always dispute an item with the credit bureaus if it's wrong. .

As of July 1, 2017,  Experian, Equifax, and TransUnion don't report tax lien and civil judgment information, unless it has your Social Security Number or birthdate. Most judgments don't have this information. So, these things may or may not appear on your credit report after that date, even if they did before.

As of September 1, 2017, medical debt isn't  reported until 6 months after the payment due date. This change gives you time to work with your insurance company to resolve any issues before they can affect your credit record. If the insurance company pays the debt later, it won't appear on your credit report either. These changes should help lower errors that affect your credit report.