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.
France, West Germany, Italy, Japan, the United Kingdom, and the United States formed the Group of Six in 1975 (Canada joined the following year) to provide a venue for the non-Communist powers to address pressing economic concerns, which at the time included inflation and a recession sparked by the OPEC oil embargo.he European Union has participated fully in the G7 since 1981 as a nonenumerated member. It is represented by the presidents of the European Council, which represents the EU member states' leaders, and the European Commission, the EU's executive body.