mkulda
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This is not a bankruptcy, so it won't be like 7 or 10 years.....
The most important thing to remember is that it counts most against your score the soonest in the past it occurred.
So if you just now paid it off, your score will be at it worst point. The longer in the past it is, the fewer the points that get taken off your score. In other words, as each month goes by and you keep making payments your score will go up incrementally a few points per month.
I think you are thinking that there is this magic date and before the date you have a bad score and then after that date all of a sudden your score dramatically improves overnight.
It doesn't work that way.
Just keep making payments on time and don't overextend yourself and you'll gradually improve that part of your score (which by the way makes up 65% of your overall score). |
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jperk1941
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credit problems can stay on your record for up to 10 years. |
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Rich C
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You can still get more credit at up to 30 % . YIKES [can you spell Loan-Shark'?? Call any one of the major credit authorities and find out youe score [ 700 is excellant, 600=BAD news]
pay of youe debt and expect to wait 6-11 monthe for your 'Score ' to go back up. And watch out for stolen identity. |
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over_educated_under_everything
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most credit agencies keep 24 month rolling histories of payment activities. so it'll show up inside of 2 years. have you brought the account current? if not, it will stay delinquent until you make up those missed payments. |
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Zealnu
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It is seven years. It may affect the interest you pay on the other credit cards also. Check your free credit report from all thre credit card reporting agency, make sure to go through the real sites. There are others who advertise as free credit report beware. It is better not to charge unless you are using it for emergency it is better to pay as you go. Buy what you need not what you went. |
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n4il_p0lish2000
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in my state its for 7 years. |
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?
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forever |
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db83
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Expect for that to stay on there for at least 7 years. It sucks, I know, but 180 days is a long time to be late. Most credit card companies will not report if you're a couple days or weeks late if you get it resolved quickly, but 6 months is long enough to have collection agencies on you every day. |
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sevenout7
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7 years, i know from experience |
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corey j
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could be there for up to 5 years. But after two years, once you've kept your payment on time, the negative effect will be reduced. Note keeps outstanding balance under 50% of credit limit. |
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Lianne
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Unfortunately, that late payment will continue to be reported on your credit report and factored into your fico score for the next 7 years. For a timeline on how long negative items remain on your report, check out http://creditwisdom.blogspot.com/2006/09/credit-report-timeline.html and for tips on raising your fico score take a look at http://creditwisdom.blogspot.com/2006/09/raising-your-credit-score.html |
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its_kristy
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Order your free credit report. Once you do, you'll see that at a mininum, the last 24 months of payment history is shown on each account. |
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