Solving Bad Credit Reports Faqs On Bankruptcy Part2Unfortunately the answer is no. Once-delinquent, past-due accounts still show up as severe negatives even if they have subsequently been paid off. It's important to note that credit reports don't just show your current credit situation, but they also show what your credit situation has been in the past. Therefore, past delinquency, collection activity or a charged off...... Similar Editorial : by G Marwick. | Source : Federal Student Consolidation