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Closing Accounts with Negative Payment History

Closing an account with a negative payment history might seem like the ideal solution to cleaning up a checkered credit report. Unfortunately, that isn't the case. Closing an account does not remove it from your credit report. Negative information, whether the account is open or closed, generally stays on credit reports for seven years. Bankruptcies can stay on up to ten years. And certain other types of information can stay on indefinitely.

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