My understanding is that most negative account info falls off of your credit report after 7 years.
My fiancee has a student loan. She will be paying on this thing forever - like 10 years or something.
When she was first supposed to start paying she apparently missed a payment. So, now the account shows up as a negative factor on her credit reports. This missed payment was like 3 years ago.
Let's say she continues to pay on time for the next 4 years, will the account still count negatively even after the missed payment is 7 prior just because the account is still active?
My understanding is that while that tradeline will still be reported since it's still open the late payment will fall off 7 years from the date of the late payment. If I'm wrong hopefully someone with more experience will correct me. Hope this helps.