It’s easy to get into a tough financial spot and to end up with issues on your credit report, but if you are having a hard time getting approved for Ontario auto financing, you could be asking, “How long do things stay on your credit report?”

Even though you should definitely know that there are auto financing options for people who have negative entries on their credit reports, such as dealer financing instead of bank car financing, you might still want to see what you can do about the negative entries that have made their way onto your report.

How Long Do Things Stay On Your Credit Report?

Although you might wish that negative entries would fall off of your credit report more quickly, it can actually take quite a while for them to do so. Your average entries will usually fall off of your credit reports naturally in about seven years, so if you have older entries from five or more years ago, you should be happy to know that they will be coming off soon. These old entries also stop affecting your score as much as they get older and older and closer to falling off completely.

Some entries do stay on your report longer, however. For example, court judgments, tax liens and bankruptcies usually stay on your report for as long as ten years or more.

What Can You Do About Negative Credit Report Entries?

Wait for negative things to fall off and use things like dealer financing for cars to get what you need in the meantime.

Contact your creditors to see if they will delete the negative entries on your report in exchange for you paying some or all of what you owe.

Contact an agency that specializes in helping people repair their credit.

These are a few options that you can consider if you have negative things on your credit report that you need to get rid of. Once you start working on these things, you can start to watch your credit score shoot up, which can make it a lot easier for you to qualify for credit cards and financing and even to get jobs, rentals and more.