A negative credit report entry is simply undesirable. Even though your credit can improve despite negative entries, you don't necessarily want future creditors and lenders to know you were ever late on your bills. Luckily, the law states that negative credit report information won't stay on your credit report forever. After the credit reporting time limit has expired, negative information can be removed from your credit report. If it doesnt fall off automatically, you can submit a credit report dispute to have it removed.
Answers to Common Credit Report Questions: