Credit Repair Tips
Late payments on your credit report

30 days late, 60 days late, 90 days late, 120 days late, 150 days late

Late payments that show up on your credit report hurt your credit score to varying degrees. Even though it seems that all late payments are the same, this is not true. There is one late payment in particular that could ruin your credit for a very long time! Whether it is a late rent payment, a late credit card payment, or a late bill payment, if it is 90 days or above it will destroy your credit score. Not only will you have record of this on your credit score, but a lot of the times creditors will charge late payment fees or late fees, and it ends up costing you more money!

In all situations circumstances arise and a 30 day or even 60 day late payment happens, and creditors know this. Most of the time, if you make your payments on time after the delinquency occurs your credit will go back to normal a short time after the incident is cleared up. A 90 day late payment affects your credit score almost the same as a repossessed auto loan, a collection or charge off account, or even a bankruptcy! This is why it is so important to make your payments on time, and keep track of your credit score. However, not all 30, 60, 90, 120, or 150 days late payments are reported accurately. In that case, it is best to seek credit repair to dispute those items so that they can be removed from your credit report.

As many as 79% of credit reports are reported inaccurately or incorrectly. Most of the information contained in your credit report is only allowed on your credit report for 7 years, and if it is a bankruptcy then it is allowed for 10 years. However, there is help. You can request your credit report for free once a year at www.annualcreditreport.com. Annualcreditreport.com works with the government to insure the credit reporting agencies are following the proper laws. If you feel that you have information that is incorrectly showing on your credit report, then it is your legal right to dispute the information on your credit report.

90 day late payment affects your credit score because it is an indicator of how likely you are to be late again in the future

Whether you have several late payments, or just one 90 day late payment, it is always worth verifying the accuracy of the information. Many companies may report different information that is not true, and it is your job to check the status of your credit. If you have charge offs, collection accounts, repossessions, foreclosures, past due student loans, bankruptcies, or any other public records on your credit report, then credit repair is your best solution. It could be the difference between a home or an apartment, or several thousands of dollars on an interest rate, as well as many other financial decisions in your lifetime. Remember, most items are only allowed to stay on your credit report for 7 years, but credit reporting agencies will try to keep them on longer.

How we can help you

CreditLawGroup.com provides low cost legal representation in disputing inaccurate, incorrect or unverifiable information contained on credit reports from the three major credit bureaus, Equifax® Experian® and TransUnion® and their affiliates. You can monitor your progress online, as well as speak to your Paralegal whenever needed by phone or email. We have excellent customer service, and are always there to meet your needs! Speak to a credit repair analyst today!

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