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Will your bad credit rating vanish after seven years if debt is not paid?
Wiki User
∙ 11y ago
No. The credit rating shows if you're a credit risk. Not paying a debt for seven years is a credit risk, there's no reason to expect you could just wait it out and have a clean sheet.
Wiki User
∙ 11y ago
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How long does a foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
Can you improve your credit score by cosigning for someone who has little or no credit?
No, such activity only lowers your credit rating. It goes against your total indebtedness. Plus, if they default it can kill your credit rating and take years to remedy. Mark
Will a bad credit mark at 17-years-old affect your credit rating at 18-years-old in Florida?
In most places a 17-year-old can't have a credit rating, since they are not old enough to contract in order to create one.
How do you get your credit rating to improve and how long does it take?
Items that impact your credit are normally on your record for 5-7 years.
How long does it take for bad credit to come off your credit report?
Anywhere between seven (7) and fifteen (15) years. It won't go back up as fast as it came down ... it will take many years to build back up to any decent rating.
How long on your credit rating after a motorhome is repoed?
Seven years.
How long will settled debt affect your credit rating?
seven years from the date of last payment.
How do repossessed cars affect your credit rating?
A car reposession will leave a major black spot on your credit rating for 7 years.
How long does a voluntary repossession affect your credit rating?
7 years.
How long does a foreclosure stay on your credit report?
A foreclosure will typically remain on your credit report for seven years.
Can you improve your credit score by cosigning for someone who has little or no credit?
No, such activity only lowers your credit rating. It goes against your total indebtedness. Plus, if they default it can kill your credit rating and take years to remedy. Mark
Will a bad credit mark at 17-years-old affect your credit rating at 18-years-old in Florida?
In most places a 17-year-old can't have a credit rating, since they are not old enough to contract in order to create one.
What will two car repossessions in three years do to your credit?
it will spoil your credit but will be cleared after seven years
How do you get your credit rating to improve and how long does it take?
Items that impact your credit are normally on your record for 5-7 years.
How long does it take for bad credit to come off your credit report?
Anywhere between seven (7) and fifteen (15) years. It won't go back up as fast as it came down ... it will take many years to build back up to any decent rating.
How long credit card debt stay on credit report?
seven years
How would your credit be affected if you have a car that has gotten repossed?
Negative credit rating. Stays on your credit report for 7 years. Don't let it happen.
