What type of information is most likely to remain on a credit report for 10 years?

Bankruptcies are the type of information that can remain on a credit report for a significant period, specifically up to 10 years from the date of filing. This duration reflects the serious impact that a bankruptcy can have on an individual’s creditworthiness. Credit reports are designed to provide a comprehensive history of one's credit behavior, and bankruptcies represent a major financial event that lenders consider crucial in assessing credit risk.

In contrast, other types of information, such as late payments, typically remain on a credit report for a shorter duration, usually around 7 years. New credit inquiries are recorded for just 2 years, and credit utilization itself does not appear directly on a credit report; instead, it is calculated based on current balances and credit limits, which can change frequently.

By highlighting the permanence of bankruptcy filings on credit reports for a full decade, we see the necessity for individuals to understand the implications of such financial decisions and the long-term effects on their credit profile.