Credit check; How long does a debt stay in your name for.?

Question

I heard it was only for 5 years,,,,,,please let me know what you know. Australia...

Answer 1

In the USA it's 7 years.

Answer 2

5 yrs for Defaults / Debts. 7Yrs for Bankruptcy but with bankrupt you can get an early discharge after 3yrs IF your creditors doubt they will get any money out of you.

Answer 3

most every thing stays on your record for seven years!!!  but it could stay longer!!!

Answer 4

If it were an amount of time, it would be 7 years - The minimum offical documents should be kept for. I think it is forever though to be honest, until you change it yourself through good credit payments.

Answer 5

This is a rather hard question to answer,  Australia does not have what we in the US call Credit Reporting Agencies.  Australia has a Uniform Consumer Credit Code.

Here is where it gets tricky, each province has their own provisions to this Code, so without knowing for sure where you live it is hard to answer.

Here is a link to the UCCC.  You might find the answer there.

http://www.creditcode.gov.au/

Hope this helps