Accurate Negative Information Can Leave Military Families Under Pressure

When negative information in your report is accurate, only the passage of time can assure its removal. For military families who have a spouse or dependents on deployment, having a negative mark on your credit file can place added stress on an already tense situation. There are many different aspects to take into account when trying to understand negative information on your credit report.


For instance, a credit reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. These circumstances can gravely affect your chances of obtaining a loan, getting a job, or buying a house. For young families and military members who are beginning journeys or want to pursue endeavors and need financial loans, understanding the details of the negative marks on your credit report can make the difference between you walking blindly into bad loans and you dealing with your credit situation appropriately, ultimately coming out on top.

There is no time limit on reporting information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you’ve applied for more than $150,000 worth of credit or life insurance. There is a standard method for calculating the seven-year reporting period, generally beginning from the date that the event took place.

Adding Accounts to Your File

Your credit file may not reflect all your credit accounts. Most national department store and all-purpose bank credit card accounts are included in your file, but not all. Some local retailers, credit unions, and travel, entertainment, and gasoline card companies are among those that usually aren’t included.

If you’ve been told that you were denied credit because of an “insufficient credit file” or “no credit file” and you have accounts with creditors that don’t appear in your credit file, ask the credit reporting companies to add this information to future reports. Although they are not required to do so, many credit reporting companies will add verifiable accounts for a fee. However, if these creditors do not generally report to the credit reporting company, the added items will not be updated in your file.

In order to obtain housing and car loans or even get a high paying job, you need to have your credit report under control. For military families, this is one of the most important things to consider within your finances, especially if a spouse or dependent is on deployment. MilitaryConnection has teamed up with Pioneer Lending to provide you with a direct path to secure and affordable loan options. offers the most up-to-date military finance articles on the web. We constantly update our information to include the most relevant military news regarding finance and credit including extensive loan information. Everything here is free to users. From our extensive job board to our virtual job fair, we offer a multitude of resources for military and veteran job seekers. Surf our directory of employers that consists of over 30,000 employers, read the latest job tips and columns written by job experts or post a job yourself by signing up as an employer. Along with career and finance articles, offers a great amount of informational resources on education benefits for military members, veterans and their families, like the Post 9/11 GI Bill. Check out our scholarship directory for the latest scholarship opportunities available to military and veterans. For all your military needs, visit, your “go-to” site for everything military.