| I will tell you exactly how long late payments will stay | | | | negative information that you did not make the |
| on your credit report once it is recorded there. Before I | | | | payment on time. |
| do that, it is appropriate for me to explain to you how | | | | The rule I explained above on how and when past due |
| and when late payments are recorded into your credit | | | | payments are reported to the credit bureaus applies to |
| report. | | | | departmental store cards, gasoline cards, mortgage |
| Late payments are negative information and nobody | | | | loans and personal loans. |
| really wants that. In reporting such payments to the | | | | Now to the main topic of this article. Past due |
| credit bureaus, creditors will wait until 30 days after the | | | | payments will stay on your credit report for 7 years. If |
| date you are supposed to pay your debt for that | | | | the late payment account remains on your credit |
| month before they report it to the credit bureaus. Let | | | | report 7 years after it was recorded, then you should |
| me give you an example. | | | | send a dispute letter to the credit bureau that listed the |
| Let us assume that the date due for your bill to a | | | | entry to have it deleted. |
| creditor is January 1st. Even if you do not pay the | | | | The effect will last between 3 to 6 months on your |
| creditor by January 29th, they will not report this type | | | | credit report. What you should do to avoid the |
| of lateness to the credit bureaus. But once it is | | | | negative effect being entered in your account is to |
| February 1st and you still have not paid the creditor, | | | | pay your bill at very latest before the 30day grace |
| then they will furnish the credit bureau with the | | | | period expires. |