Making Payment on accounts that expire this year?

[Anonymous]

I have a repossession that will expire in Sept. 2011, but I need to start making payments for the sake of maintaining my security clearance. If I start making payments on the account, will it extend the seven period to 2012?

[mauve]

It will not extend your reporting time period. 

[Anonymous]

Thanks

[mauve]

The drop-off is based on the date of first delinquency, the date that you became delinquent and never caught back up.  I.e., if you stopped paying with a due date of January 1st and you rack up a 30 day late February 1st and continue to not pay and also incur a 60 day late on March 1st, those lates should drop off based on the January 1st date.  I believe.  If you caught up later, that doesn't affect the prior reporting or extend it.  The repo should drop off as scheduled whether or not you start making payments - I'm not sure how the reporting will change status-wise, though.  Current status vs. prior derogatories are not the same thing.