Now they can get you out of a ticket. Thirty-six states now allow drivers to show electronic proof of insurance coverage during a traffic stop, according to the Property Casualty Insurance Association of America (PCI).
A late payment can stay on your credit report for up to seven years. This is the standard time limit for most items. Only a bankruptcy can stay longer -- up to 10 years in some cases. But for late payments, seven is the magic number. You can think of your credit reports as a record of your previous debt payments.
Letâs explore how long negative entries remain on your credit report: Late Payments. Late payments will generally remain on your account for 7 years. However, if the account on your credit report reflects current status and payment history, past late payments could remain on your credit report for up to 10 years.