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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4511
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I have defaulted on a credit card. If I pay the debt in full

Customer Question

I have defaulted on a credit card. If I pay the debt in full tomorrow, how long will it take credit report to show that the debt has been paid for? Also, how long will it take for the default to be removed from my report completely?
Submitted: 1 year ago.
Category: Finance
Customer: replied 1 year ago.
Also, what are the chances that a previous credit card default will prevent me from earning an insurance license? I haven't defaulted on insurance payments, haven't had any judgments placed against me, and I've never been arrested.
Customer: replied 1 year ago.
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Customer: replied 1 year ago.
Finally, what are the chances that a previous credit card default, which as been reported on my credit report as paid, will prevent me from earning an insurance license?
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,
Hello and welcome. Thank you for providing an opportunity to assist you.
I will keep my reply crisp so as to avoid any confusion. To begin with, if you make your payment in full, it will usually take anywhere between 10-15 days for it to show on your credit report. Usually, all reporting members of Credit Bureaus report and update twice a month.
Secondly, I do not feel that any previous credit card default which is reported as paid would prevent you from earning an insurance license.
I hope this helps...
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