30, 60, 90 and 120 day late, do these numbers have any bearing on your score? Will you get more negative points the later you are or do they run about the same?
Well simply speaking the effect increases with the number. In the earlier stages of delinquency it is considered as a delinquent account but if it shows the 120 days then creditors consider it to be a foreclosure.
I've reached that 120 days late point and they go after you hard...it's a long story with these couple of accounts, but it's not good when you do reach that. I'm glad good that you haven't!
Oh, you know what I have done it on a credit card, this is the one that is being my biggest pain right now and we are going to arbitration soon on it. So, brain cramp or blondness, don't know which it was, well anyway a big "DUH!" moment for me. I was thinking of one bill in particular.
I was just wondering if these numbers have anything to do with dropping your score, does 120 affect it more than 30 does?
I can't wait for these derogatories to move off my credit report, hopefully the 120 will go away then. I have paid a few of them off, but I don't know that the status will change since they were in collections when I paid them off. Anyone know?
Did not think of that, dispute at this time and send a copy of the paid in full letter with it, that may prompt some action. Thanks for the advice it is worth a shot.
Lates will always stay, but getting and staying current will eventually take over, most lenders will look back a year to see how you have done. They see it all, but will consider a year of on time a good enough effort to loan. Be prepared to explain these late payments, they will more than likely ask.
We need the members, we have been getting a few new ones here and there. I have been trying to get the guest that post on here to register and participate, hopefully they will.
unless the law has changed a late pay is on your credit for 24 months not 7 years, unless it is delinquient. You can write the credit reporting agency and tell then to remove it.
SMP, I believe they may have been referring to a debt that has not been paid and no intentions of paying. A late payment is different than a unpaid debt (one in serious delinquency and taken over by a collection agency.
Well simply speaking the effect increases with the number. In the earlier stages of delinquency it is considered as a delinquent account but if it shows the 120 days then creditors consider it to be a foreclosure.
Ok, I have never reached that 120 point and don't intend to, getting current and staying there will feel so good, finally. It has been a struggle.
I've reached that 120 days late point and they go after you hard...it's a long story with these couple of accounts, but it's not good when you do reach that. I'm glad good that you haven't!
Oh, you know what I have done it on a credit card, this is the one that is being my biggest pain right now and we are going to arbitration soon on it. So, brain cramp or blondness, don't know which it was, well anyway a big "DUH!" moment for me. I was thinking of one bill in particular.
I was just wondering if these numbers have anything to do with dropping your score, does 120 affect it more than 30 does?
Yes.
I can't wait for these derogatories to move off my credit report, hopefully the 120 will go away then. I have paid a few of them off, but I don't know that the status will change since they were in collections when I paid them off. Anyone know?
The account should be updated to reflect paid. The 120 late will likely stay; you can try to dispute it.
Did not think of that, dispute at this time and send a copy of the paid in full letter with it, that may prompt some action. Thanks for the advice it is worth a shot.
Lates will always stay, but getting and staying current will eventually take over, most lenders will look back a year to see how you have done. They see it all, but will consider a year of on time a good enough effort to loan. Be prepared to explain these late payments, they will more than likely ask.
So if a negative is a year old and it still shows the lender will ask me regarding the presence of such negative?
More than likely, even if you are current now they will want to know what was going on with you during that negative time frame.
I got that point. Thanks a tonne Good :)
lates can stay up to 7 yrs on your credit report
thanks sswiz, you should register and join us on the forum. We would love to have you.
thanks sswiz, you should register and join us on the forum. We would love to have you.
yes sswiz we would love to have you here.
We need the members, we have been getting a few new ones here and there. I have been trying to get the guest that post on here to register and participate, hopefully they will.
Late pay
unless the law has changed a late pay is on your credit for 24 months not 7 years, unless it is delinquient. You can write the credit reporting agency and tell then to remove it.
SMP, I believe they may have been referring to a debt that has not been paid and no intentions of paying. A late payment is different than a unpaid debt (one in serious delinquency and taken over by a collection agency.