Question

How long can a consumer reporting agency report unfavorable information?

A) 3 years
B) 5 years
C) 7 years
D) 10 years

Answer 1

A consumer reporting agency can report unfavorable information for up to 7 years.

Step-by-step explanation:

The correct answer is C) 7 years.

A consumer reporting agency can report unfavorable information for up to 7 years. This includes information such as late payments, collections, and bankruptcies. After 7 years, the information must be removed from the consumer's credit report.

For example, if a consumer has a late payment on their credit card, it can be reported for up to 7 years from the date of the late payment.