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.
However, you should know that any late payment will stay on your credit history for seven years. The credit hit gets worse the more you push the payment back. A payment thatâs 90 days late is worse than one thatâs 60 days late, which is worse than one thatâs 30 days late, and so on. The biggest detriments to your credit are collection items such as bankruptcies, foreclosures and liens.