The Long-Term Impact of Negative Listings on Your Credit Report

Defaults

A default remains on your credit report for five years, whether paid or unpaid and can impact your financial opportunities.

Serious Credit Infringement (SCI)/ Clearout

An SCI, also known as a clearout, stays on your credit report for seven years, whether paid or unpaid and can negatively impact your ability to borrow.
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Summons & Writs

Summons & Writs remains on your credit file for five years.

Court Judgements

Court Judgements remains on your credit file for five years.

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    Good Credit vs Bad Credit

    When you have good credit, you can access financing from top-tier lenders with better terms and lower interest rates. On the other hand, bad credit limits your options to non-conforming lenders who charge higher interest rates due to the increased risk. Good credit opens doors to better financial opportunities, while bad credit can result in stricter terms and higher costs. Maintaining a strong credit profile helps you secure better financial outcomes and long-term savings.

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