Archive for the ‘Late Payments’ Category
Credit scores and late payments
Wednesday, May 23rd, 2012
It is very important to pay your debt on time; otherwise it will badly affect your credit score. Your total credit score includes 35% of your payment history. Thus, if you make late payments, that simply shows your inability of making repayments. It will result in the lender’s unwillingness to lend you. Here are the […]
Tags: Credit Cards, Credit Score, Late Payments
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Consumer are working on their debt to credit ratios and payment history
Tuesday, August 16th, 2011
A recent report by TransUnion, one of the three major credit bureaus, found the the nation’s delinquency rate fell to its lowest level in 17 years. The delinquency rate is a measurement of consumer late payments older than 90 days. The report also found the average debt per borrower is $4,699. This is somewhat surprising […]
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30 Day Late Payments Versus 90 Day Late Payments
Sunday, February 13th, 2011
There is no doubt that paying late will hurt your FICO score, but making 90 day late payments could the worst of all. If you look at the FICO score calculation, you will find that 30% of your score is made of your payment history. If you read deeper into just your payment history, you […]
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Will a late payment kill my credit score
Thursday, December 23rd, 2010
If you are asking the question will a late payment kill my credit score means you either just paid late or you are thinking about paying late. You payment history is the single largest portion of the FICO score calculation, making up % 35 of your score. It also is with you the longest. Your […]
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Do creditors have to report 30 day late payment
Wednesday, December 22nd, 2010
This is a question that might be running through your mind if you just dropped the check in the mail for a payment you know will be late. It seems not fair that if the payment if just one or two days late that your creditor will report you as late. The answer to: do […]
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Missed Payments And Your FICO Score
Wednesday, June 24th, 2009
If you know the FICO score calculation you will find the single worst thing you can do to your FICO score is to pay late. Your payment history accounts for 35% of your FICO score and 7 years of payments are taken into account. Missed payment are judged based on three factors. The first is […]
Tags: FICO score
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30 Day Late Payments
Saturday, June 6th, 2009
Consider a less severe form of delinquency 30 day late payments can have a varied effect on your credit score. Its effects are related to how often this happens. If you are person who frequently pays your accounts on time then one late payment can have a larger effect than a person who always pays […]
Tags: Add new tag, Credit Score, Late Payments
Posted in Late Payments, Uncategorized | 3 Comments »