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LATE PAYMENTS

WHAT ARE THE DIFFERENT CATEGORIES OF LATE PAYMENTS AND HOW DOES YOUR CREDIT SCORE CONSIDER LATE PAYMENTS?


Your credit score categorizes late payments using these general criteria: how recent the late payments are, how severe the late payments are, and how frequently the late payments occur. This means that a recent late payment could be more damaging to your credit score than a number of late payments that happened a long time ago.

You may have noticed on your credit report that late payments are detailed as to how late the payment was. Typically, creditors report late payments in one of these categories: 30 days late, 60 days late, 90 days late, 120 days late, 150 days late, or charge off. If you continue to not pay your debt and your creditor either charges it off, or sends it to a collection agency, it is considered a significant credit event with regard to your score and will likely have a severely negative impact.

It’s important to always pay on time with any bill because your history of payments is one of the largest factors in your credit score. If you are struggling to pay a bill on time, we recommend that you reach out to your creditor as they may be willing to work something out with you. For a free consultation visit us here!

Processing Your File First Step

It is required that you provide the information listed below for the file processing and verification


  • Please provide a copy of your social security card.
  • Please provide a copy of your driver's license or picture identification.
  • Please provide a copy of a utility bill also verifying your mailing address.
  • Please provide 2 additional forms of verification of your current mailing address. This is required only if your driver's license does NOT list your current mailing address.


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