Guys I have a very straightforward question and I hope someone can help me out with it.
If you have missed payments on a loan/credit card, etc. for a total of say 6 months consecutively, and can't make up those arrears, but you have since then made all monthly payments, what is reflected on your credit rating, assuming you continue to make the monthly payment and pay debt off in full? Does it stay on your rating for just 2 years as they would be counted as missed payments, or, would it be on your record for the full 5 years?
If you have missed payments on a loan/credit card, etc. for a total of say 6 months consecutively, and can't make up those arrears, but you have since then made all monthly payments, what is reflected on your credit rating, assuming you continue to make the monthly payment and pay debt off in full? Does it stay on your rating for just 2 years as they would be counted as missed payments, or, would it be on your record for the full 5 years?