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Unpaid judgments remain on your credit report for seven years or until the state statute of limitations runs out, whichever is longer. Knowledge Is Power. A proactive strategy starts with a review of your current status.
A debt collection is one of the worst types of credit report accounts. A collection account shows that you have become seriously delinquent on an account. Your credit score will drop if a collection appears on your report. You may be denied for credit cards and loans in the future, especially if the collection is recent or remains unpaid or both. Debt collection accounts can stay on your credit report for up to seven years. You can lessen the effects of a collection on your credit score by paying it off. As time passes, the collection account will affect your credit less.