Late Payments. Most derogatory accounts start off as just one late payment. Late payments occur when your account is 30 days late or more. If your account is close or you become current on your payments, late payments can still linger on your credit report for up to 7 years.
The Group of 7 (G7) is a group consisting of the finance ministers and central bank governors of seven major advanced economies as reported by the International Monetary Fund: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States meeting to discuss primarily economic issues.n 2008 the G7 met twice in Washington, D.C. to discuss the global financial crisis of 2007-2010 and in February 2009 in Rome. The group of finance ministers pledged to take all necessary steps to stem the crisis.
The industrialized nations of the world have great influence. The Group of Eight (G8) Industrialized Nations was founded in 1975 and holds annual meetings, the G8 Summit, to discuss pertinent global issues, such as the global economy, energy and security. The G8 members are France, Germany, Italy, Great Britain, Japan, the United States, Canada and Russia. Some do not think Russia, which joined the group in 1998, belongs, as its economy is not as advanced as many other industrialized countries.