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.
Time Frame. A 30-day late payment notation is a negative item for your credit. Like most negative items, the 30-day late payment will only remain on your credit report for seven years. After seven years, the Fair Credit Reporting Act dictates that the credit bureaus must delete it from your record.onsiderations. A 30-day late payment will remain on your credit record for seven years, but the negative impact it has on your credit rating will decrease over time. The most recent information on your credit report has the greatest impact on your scores.