disabilities. 1  1: the condition of being disabled. 2  2: limitation in the ability to pursue an occupation because of physical or mental impairment. 3  3: a physical or mental illness, injury, or condition that incapacitates in any way; also : a program providing financial support to one affected by disability went on disability after the injury.
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.
Creditors usually report late payments to credit bureaus when you run 30 days or more past due. Late payments seriously damage your credit score and make it difficult to get credit, as well as saddle you with high interest rates. Late payments can stay on your credit report for years unless you can get them removed.