I would like to know how long US companies like banks, Finance companies and
Credit Card Companies, Credit Bureau keep the details of their customer's
payment history.

I searched on the net and read that for some, info is kept for 7 years from
customer's last transaction.  After 7 years info of customer's bad debt is
removed.  But they say for Bankruptcy cases, it is 10 years.  And also if
one were to apply for certain jobs, employers can still obtain customer's
bad debt info even after 7 years.

From a Records Mgmt point of view, would it not be that once the 7 years
comes up,  the bad debt customer's(not bankruptcy acse) file would be
destroyed and that is the end of it.  How then can they still access this
info concerning bad debt for more than 7 years.  Or perhaps the regulation
is to keep info for more than 7 years.  If so how many year then?  It cannot
be a case of selectively keeping obsolete information.

David

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