On March 11, 1861, the Confederate Constitution of seven state signatories â South Carolina, Mississippi, Florida, Alabama, Georgia, Louisiana, and Texas â replaced the February 7 Provisional Confederate States Constitution with one stating in its preamble a desire for a permanent federal government.
How long student loan problems can affect your credit isnât always clear, because they donât all work the same way. One thing is clear: If you have private student loans, they should be treated like any other negative event, cycling off your credit report after seven years from the date of the late payment.So a negative mark on your private loan (and most federal student loans) will cease to hurt your credit after that time frame.But there is one type of federal loan â a Perkins loan â that can stay on your credit report until the loan has been paid in full, even if it is longer than seven years.This is not true for other types of student loans.ne thing is clear: If you have private student loans, they should be treated like any other negative event, cycling off your credit report after seven years from the date of the late payment.
Steve, the charge-off will remain on your credit report for seven years. The Fair Credit Reporting Act states that negative items will stay on your credit report for seven years from the first date of delinquency resulting in the charge-off. Typically, a debt is charged off once it is delinquent for 120 to 180 days.The original time frame for a loan -- such as five years, in the case of a car loan -- has no bearing on the length of time the delinquency will be reported in your credit file.ther actions can affect the clock in some states, so be sure you understand your state's law.To sum up, credit reporting laws pertain to how long an accurate negative item can be reported on a person's credit report, and statute of limitation laws apply to how long a debt can be legally collected using the courts.