FAQ: If bad debt is paid off will it be removed from a credit report?
Past bad credit (PBC) will not disappear over night. Derogatory information like bad debts, charge-offs and late payments can stay on a credit report for seven years from the first date of delinquency . While it stays on the report and may continue to impact the score, good recent activity will carry more weight. Having active well-managed accounts on the credit report will help a score bounce back, even with the bad debt.
|
