The longer you wait to get a 30 day late removed, your chances of getting it removed go down. Let me give you an example. You have been paying your credit card on time for the last eighteen months. Your wife who normally pays the bill on-line got sick, was hospitalized and was out of commission for a month. Although you pay your mortgage and car note that are not on line on time, this bill slips through the cracks. If you can verify what happened, they may get rid of this negative reporting. You will have a better chance of getting this done if you report this situation within the next one to two months.

Let’s go over those three categories that we mentioned in part 1. If you have several late payments (two or more) within a year, creditors and potential creditors will start to view you in two ways. 1. You are overextending yourself financially. 2. You are not concerned about paying on time. This is why it is extremely important to pay before that 30 day window expires.

If you have one or more payments that are thirteen to twenty four months delinquent, your score may not go down as much. When you have late payments twenty four months and beyond, they will have less impact on your credit score.  Some creditors and potential creditors are not as forgiving even though late payments are old. So what is the key point I am getting to? It is extremely important to pay your bills on time.                           

Late payments make up 35% of your credit score. If your credit score is down because you have been consistently paying your creditors late, you will have to make a decision. That decision is to start paying on time. If you do that consistently for the next year, you may see a significant boost in your credit score. The next time, we will talk about some ways to practically pay your bills on time. I can be reached at 313-744-5977 or by e-mail at gethelpnow@tiredofbillcollectors.com if you need some help. Don’t forget to ask about our referred pricing program.