Information reported by the creditors to the bureaus

Credit bureaus share your information with the creditors generally for a period of six years. During this time, your accounts are classified into 'settled', 'active', 'defaulted', or 'delinquent'.

A ‘settled’ account is shown in the credit file when you have successfully completed payments towards your debt after entering into a negotiation. Dates will be shown against the accounts.

A ‘defaulted’ account appears on the file when you have been unable to make regular payments towards the accounts. The agencies start recording the delinquencies for a period of six years and if you have re-considered payment to the defaulted account, it will be posted as ‘satisfied’ in your file.

A ‘delinquent’ account is shown in the file which gives the details of missed payments. The status of the account is posted along with it. It can be easily picturized from the file if the payments were made on time or have been late.

Repossessions will also appear in your credit report if the lender has taken your property. Address of the home which has been acquired by the lender, new address where you are presently residing and address of the place where this mortgage application took place will also be included in the details.

Besides, there is other information such as charged off, foreclosure, Bankruptcy, lawsuit, judgment, tax liens, collections that are displayed in the credit file of an individual.