A credit report is a statement that outlines your credit history. Credit reports are used by lenders to decide someone's financial trustworthiness.

Various kinds of financial information can be included on a credit report, including:

• Account history. This can include information about the type of account, loan amounts, credit limits, account balances, and payment history.
• Collections items. Examples include overdue child support payments, debts, and unpaid loans that have been sent to collections.
• Public records. Examples include court records of bankruptcies, evictions, liens, and any criminal history.
• Credit inquiries. This includes a history of credit inquires when applying for a new loan. 

 The resources below have more information about what can be included on a credit report.

Understanding the Law

Generally, Texas and federal law state that most negative information can stay on your credit report for up to seven years. However, some information, like certain types of bankruptcies, may stay on a credit report for up to 10 years. Some examples include:

• Bankruptcies. Depending on the kind of bankruptcy, these can stay on your credit report for 7 to 10 years.
• Unpaid child support. If you owe child support, it can remain on your report for 7 years.
• Late payments. A late payment can stay on your credit report for 7 years after the late payment.
• Lawsuit or civil judgment against you. A lawsuit or civil judgment against you can be reported for up to 7 years or until the statute of limitations runs out, whichever is longer.
• Hard credit inquiries. Hard credit inquiries will be reported on your credit report for 2 years. A hard credit report will only affect your Fair Isaac Corporation (FICO) credit score for 1 year.

See Section 20.05 of the Texas Business & Commerce Code and 15 U.S. Code Section 1691c for more details.

Positive information, such as paying off a loan, is not required to be removed from a credit report. This information will generally stay on your report as long as the account is open and in good standing. 

Texas & Federal Law

Understanding the Law

Medical Debt Under $500

In 2023, the 3 major credit reporting agencies announced that they will no longer report medical debt under $500.

Proposed Federal Regulations

In 2024, the Consumer Financial Protection Bureau proposed federal rules to limit the use of medical debt in credit reports.

The websites below provide more information about where you can go to request your credit report.

Understanding the Law

Rebuilding your credit can help improve your credit report and raise your credit score. Find information on how to rebuild your credit.

Understanding the Law

Many of the books and e-books available through the State Law Library contain forms or drafting guides. Below are some titles that may help you with your research on credit reports.

E-Books

Print Books