How soon, once debt is paid off, does it disappear from you credit?

My fiancee went through a bad divorce and had to resort to not paying his bills. His credit got screwed, then he recieved a decent chunk of inheritance. He has since then paid off all debt and has no credit cards or loans. Everything was paid off in June/July. How soon until it will come off of his credit report??? Please offer me advice. Thanks!

How soon, once debt is paid off, does it disappear from you credit?

Once the the debts are paid off then the credit report will update in the following month showing all debts paid. Any recent delinquency (within 90 days) will be continue to be a hindrance to your credit score until they are 12 months old.Now that the delinquency in question is paid off you should be able to borrow from creditors right away however the better interest rates and financing terms won%26#039;t come until you have reestablished your ability to pay on time with any new loans you have taken out. It takes 1-2 years of on time history with all creditors in order to tip the scales and increase your score (buying power) and off set the past.

How soon, once debt is paid off, does it disappear from you credit? loan

Some things stay on for 7 years and others for 10|||Well, unless he got this in writing, meaning a letter from the lender promising to remove any negative remarks, then it could stay there for 7 years.

One late payment still shows up on my report from 6 years ago.|||The record of the debt itself will stay on there for at least 7 years. The fact that it was paid off will help and should help raise his score but it doesn%26#039;t get erased from his report. All of that is part of his credit history. The older it is, the less impact it will have on his score.|||His report should update with the new balance(0) in about 30 days. If it is paid off and they are still showing a balance you need to dispute those listings.

Unless he has an agreement from the creditor(s) that says they will remove the information once paid they will remain on there for 7 years. That is 7 years from the date of First Delinquency. Paying the bills off did not reset this time. So for example if these were debts from 2002 they will come off in 2009, even though he paid them in 2007.|||7 years after last payment was received. So June/July 2014, or a little after that. If he filed bankruptcy and pay those lenders off, it will be on there longer due to the bankruptcy (10 years).|||7 years from the date of the first delinquency.|||It usually takes 7 years but there are things you can do to speed that up. You can have negatives and other errors removed. Check out the free evaluation form at www.totaldebtsolutionsllc.com --They partner with a true non profit that provides a high quality service for just $125. My mom used them and her score jumped 60 points. Good luck.|||7 yrs but its 10 on bankruptcy|||Maybe this resources is useful for you,Have a look,it is free.Good luck for you.http://debt-consolidation.featured-resou...