downpaymentblues Posted September 17, 2013 Report Share Posted September 17, 2013 I was 60 days late on my auto loan and this caused my credit report to plunge big time.I have paid on the account and got it up to current status but my question is this: Will this remain on my credit report for up to 7 years? Even though I am caught up on these bills is this going to remain as a negative factor on my credit report and is there anything I can do to have it removed?About a year ago I hired Lexington Law to remove items on my credit report and my experience is that it is nearly impossible to remove items that are negative when they involve financial lending such as a bank loan or credit card. Is there anything I can do?I would like to think that by next month I can just refresh my credit report and it will show my status as current and this will be behind me but I seriously doubt that's the case. I'm pretty sure I'll be stuck with this for another 7 years so I really hope I have some options here. Link to comment Share on other sites More sharing options...
shellieh98 Posted September 17, 2013 Report Share Posted September 17, 2013 It will show current if you are current, however there is a part in the trade line that shows history, and will show t one Imelda you were late. I could be wrong, but I don't think they go back more than 2 or 3 years, and by hen they really won't affect he overall credit rating at ht time. Link to comment Share on other sites More sharing options...
downpaymentblues Posted September 17, 2013 Author Report Share Posted September 17, 2013 Thanks for your reply shellieh98.Hopefully my score will be a little better next month Link to comment Share on other sites More sharing options...
shellieh98 Posted September 17, 2013 Report Share Posted September 17, 2013 Sorry for the typos, it's this ipad lol. Link to comment Share on other sites More sharing options...
kutuzov Posted September 18, 2013 Report Share Posted September 18, 2013 It can affect your credit for up to 4 years, and it will show for the full 7 years. Also if you pay the car loan it will have less impact on your credit. I got 1 30 days late on a car loan and that's my experience. Anyways a 60 day late is a minor derog but it still affects your score, as it ages it will affect it less and at 4 years it will just not be considered for the score. Link to comment Share on other sites More sharing options...
admin Posted September 19, 2013 Report Share Posted September 19, 2013 @kutuzov - you are absolutely correct. Link to comment Share on other sites More sharing options...
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