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 Ministers of the Group meet twice a year, prior to the IMFC and Development Committee meetings. Although membership in the G24 is strictly limited to 24 countries, any developing country that is a member of the G77 can participate in the meetings as an Observer.China has been a âspecial inviteeâ since 1981.he Committee usually meets twice a year following the IMFC meeting. The Development Committee has 25 members (usually ministers of finance or development) who together represent the full membership of the IMF and World Bank. The present chairperson is Marek Belka, President of the National Bank of Poland.