Question regarding credit score due to one late payment?

Hello,

How adversly does 1 late payment affect a credit score? I only did it once but since then have paid regularly. Only reason I was late was due because my mail was going into my neigbors box and he was throwing it out I later find out. Thank you.

Question regarding credit score due to one late payment?

I know exactly how you feel. Month after month I kept taking my bills to the neighbors, as soon as I received them, to give them ample time in which to pay them. The bastards, wouldn%26#039;t pay the damn things in a timely manner. Now, I%26#039;m getting rude calls from collection people and my credit score has dropped like a rock. I keep telling them, It%26#039;s not my fault!

Question regarding credit score due to one late payment?

It%26#039;s not going to be too bad, unless it was a mortgage payment (30-day lates are tracked for 12 months).

You%26#039;ll do much better with at least three long-term accounts that you%26#039;re paying regularly on, a strong income, and other such things. The best advice I%26#039;ve found online for this kind of thing is the Motley Fool (www.fool.com).

Best of Luck

Question regarding credit score due to one late payment?

One late payment wont destroy your credit score. It MAY cause your score to drop a few points but nothing more than that so dont worry. Just make sure you correct your mail issue so that this type of incident doesnt happen again in the future and you閳ユ獟l be fine.

Question regarding credit score due to one late payment?

You can always submit your 100 word consumer statement to whichever credit bureau is reporting the late payment. This negates any effect, especially if you are applying for credit.

Also you might contact the creditor and ask them to set the record straight. Most creditors will accommodate you if you are in good standing.

Question regarding credit score due to one late payment?

If that is the ONLY negative item on your credit report then it will have little effect on your FICO credit score. Also the longer it gets from the 30 day past due day the less it will affect your score.

I would contact your creditor and explain your situation and see if you can get them to agree to remove it.

Also to correct a couple of other answers to your questions:

Any negative account related activity like late payments, can be reported for up to 7 years not 12 months.

Adding a consumer statement to your file is a waste of time and will have no affect on any credit applications because most banks use FICO credit scoring to approve or deny you.

Good Luck