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heathersigmon

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Failure to pay on report
I am a free credit report member and it shows you your 24 month payment history on my collection accounts it shows reported as failure to pay on a certain month and it's been over a year since anything else was reported. I have one that will fall off that 24 month history soon. What happens when it does?

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If I understand correctly, you have an account in collections that hasn't been paid on in two years? State laws differ on time, but two years is too short for that debt to fall off your report.

If the account is still being paid as agreed, the debt will continue to be reported for up to seven years after the last payment date.

Whatever report you're looking at sounds like it is just for reference, and choose not to show items older than two years. Credit reports last significantly longer than that, save for credit inquiries.

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Late payments & collections stay on your report for 7 & 1/2 years from the date of delinquency, or the date they are paid off, whichever is later.  Payment history is 35% of your FICO score calculation.  The newer the late payment the worse it is.  So if 2 years pass since last late payment, it hurts your score less than if it were just 6 months ago.  Even though the payment history may be updated to show "no data" for the last 2 years, the fact that there was a late payment (regardless how old)  will still be part of your account status, and will still be noted.  

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