Q&A: When you pay an over-due/write-off item, how long does that (lack of a better term) “bad credit” stay on file?

Question by Bronzed: When you pay an over-due/write-off item, how long does that (lack of a better term) “bad credit” stay on file?
When I was 18 I started getting credit cards and loans, and due to youth, ignorance and inexperience I missed several payments and I believe I even have a certain card “written-off” for the amount of $ 3. Now that I make good money, I’ve accessed my credit report to pay off all fees and late items. How long will those negative marks stay on my file? I’ve heard “7 years,” I’ve heard “a few months to one year.” Obviously I am now older and wiser and wish to have- and maintain- good credit. If bad marks are on my credit report for several years, is there any way to expedite the process of having them permanently removed? Thanks!

Best answer:

Answer by TRAC
Generally, 7 years. If you pay on an item, it (according to what I’ve been told) “restarts the clock”. If you can pay something off in one lump sum, that’s best. If it’s going to be on the credit anyway, it’s better to have it paid, albeit late, than not paid at all.

I’m in the process of repairing my credit. I’ve had some charge offs as well, those close to being removed I don’t worry with. However, if something has a ways to go, I’ll pay off one at a time until they are all paid. If nothing else, it shows some effort to repair and while some creditors don’t even care about that, others will.

Good luck.

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