When your creditor updates your new trade line which usually takes about 30 days
If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.
7 years
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
Get your disputed items cleared and marked paid before you get started on the loan. Having derogatory items on your credit report will affect their opinion of your credit worthiness.
They are allowed to add late fees to balance-meaning if they are unpaid it's not paid off. And even when everything is paid off, the credit report will reflect that a loan and late fee charges were reported, paid, and then updated to show a zero balance. This information will stay on your credit report for seven years.
If You Paid The Bank All Moneys Owed, And At Present Are Credit Wise Clear With The Bank. Take Your Report To A Loan Officer Then File A Report With The Credit Reporting Company, This Should Clear This From Your Credit Records.
Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.
You need to obtain a copy of the letter stating that the loan id paid in full and just show that to them. If they are still telling you that nothing was reported pull a copy of your credit report to be on the safe side. If nothing's on your credit credit and it is still holding you back from getting something else that requires your credit to be checked than contact the Credit agency.
It reports that it was previously in foreclosure and is now paid-in-full.
7 years, after they are paid off. I have heard that tax liens stay on your credit report 10 years after they are paid off.
If in the US, then yes. The default will be replaced with paid in full. Simply send proof of the payment to the three credit bureaus.
Forever, since it looks good on your report.