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    After you pay debt on your credit report?

    By CreditWiz | February 7, 2009

    Angel questioned:


    How long after you pay all your owed accounts on your credit report will it clear? I want 1-2 emergency credit cards & I want to buy a new car & with my ancient history I couldnt do that. Now Im more responsible & know the consequences to not paying bills on time or not paying them at all. I just cleared my credit so how long should I wait?

    Topics: Credit Reports |

    5 Responses to “After you pay debt on your credit report?”

    1. Thegustaffa Says:
      February 7th, 2009 at 9:37 pm

      Well, remember your credit is more than just what you owe. Your credit rating also reflects how much you make vs. what you are buying and your past payment history. While paying off your past debts is a responsible act, it is only a part of your credit report.

    2. Tom Says:
      February 10th, 2009 at 6:22 pm

      If you want changes to reflect on the credit report, then it will be done in 45 days, also you can approach credit bureaus or credit agencies to get it done immediately. And if you are talking about your FICO scores, then it’s gonna take some time. Keep making your payments on time, and you can reap fruits in 8-10 months.

      Excellent Luck…..

    3. MusicMan5537 Says:
      February 13th, 2009 at 1:07 am

      Well if you are talking about paying off a card that was in excellent standing, it will show up as paid off 30-60 days from now.
      But, if you’re talking about negative items (charge-offs, etc.), they will be there for 7 years from the time of posting.
      That will not necessarily keep you from buying a car though.
      Depends on how many terrible things are on your report. Get a copy of your credit report and have a dealership look at it. You may be surprised and pleased.

    4. AB Says:
      February 14th, 2009 at 4:10 pm

      Are you talking about collection accounts? If so, they will be on your record for 7 years from the last date of activity. They will certainly adversely affect your score for a while. But, each year they are on there, they will have less of an impact.

    5. Jonasz Says:
      February 18th, 2009 at 3:34 am

      These items remain on your record for 7 years from date of last payment (depends on the type of debt) there are certain instances where they can be removed but it’s rare. If you do have items that are still on your record and they are older than 7 years, get a copy of your credit report and dispute those items with each credit bureau.