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.
If you miss a payment or make a late payment within 30 days of the original payment due date, that goes on your credit report and stays there for seven years. Once you become 90 days late on paying a bill, your account is closed and sent to a debt collector, which also stays on your credit report for seven years.