• Removing 30 Day Late Payments

    Removing 30 Day Late Payments
    August 20, 2009

    As you might know 30 late payments can be one of the single worse ways to ruin an excellent credit score.  But getting them removed is both possible and impossible. If you already have an excellent credit score a single late payment could be pretty painful.  You have excellent credit for a reason and any […]

  • What Is Considered A Default?

    What Is Considered A Default?
    May 8, 2009

    A defualt is when you have fall through in paying your obligations.  So where is the line drawn be your accounts between what is a late payment and what is a default? If you have not paid an account in 90 days it most always considered in defualt.  If you then pay this account it […]

  • Late Payment Effects

    Late Payment Effects
    March 6, 2009

    Paying late could be one of the worse things you could do to hurt your chances of getting a good credit score.  Late payments effect your payment history which is the largest part of your credit score.  But there are several other areas of your life it could effect. First is the money you will […]

  • The Best Way to Get an Excellent Credit Score

    The Best Way to Get an Excellent Credit Score
    February 9, 2009

    In a previous post about what is an excellent credit score, we discussed what level of credit scores are considered the best.  If you were at of above 750 you were there.  So how do you get there?  It is not an easy journey and it could take sometime. The first question is do you […]

  • Recent Late Payments or Recency

    Recent Late Payments or Recency
    January 25, 2009

    This is a somewhat confusing word: Recency. It just refers to how recent you paid late on an account. The more recent it is, the more negative effect it carries. For example, if a payment was late in the last six months it will hurt more than a late payment from three years ago. The […]

  • Paying Late Frequently

    Paying Late Frequently
    January 24, 2009

    Do you always pay your bills on time?  The answer is hopefully yes.  As part of your payment history, frequent late payments affect the largest part of your score payment history. To be honest I research an hour online using all forms of keys words and could find any specific information about frequent paying late.  […]

  • Severity of Late Payments

    Severity of Late Payments
    January 23, 2009

    As your payment history is 35% of your FICO score, negative factors such as delinquencies and late payments are a major point of review.  How long you took to pay a delinquent account is known as severity.  It is usually classed as 30, 60, 90, 120 days late, but could also include collections, repos, foreclosures, […]

  • Your Payment History

    Your Payment History

    There is no bigger item that could effect your credit score.  Why?  Creditors want to know that they will be paid on time.  Also there is a direct correlation between individuals that pay late and individuals that default on a loan. Currently, your payment accounts for 35% of your FICO score.  It has the largest […]