Houston Credit Repair experts at Impeccable Credit Services explain the differences between late payments and how they can negatively effect your credit score.
Are All Late Payments Considered Equals?
A late payment will not hit your credit score unless it is 30+ days late. It can be 29 days lat, but not thirty days late. Keep in mind if it is more than thirty days late it may also hit your credit a second and possibly a third time as a sixty or ninety day late. It is important to avoid 30+ day lates at all costs. A late payment can be 40-45 points negative against the credit score. The points are gone when the late payment hits and can not be regained with a late payment update.
Are Late Payments Worth More Than Collections?
Late payments are worth more against your credit score than a collection. They can be tedious as well. Late payments can also be reoccurring lates which can drop a credit score from Impeccable credit to not so favorable. It can cost more money to update or in rates with having a late payment. If a 30 day late can be avoided, it is highly suggested to do so. If you have late payments on your credit, you may consider getting a professional to assist with it.
Houston Credit Repair
Impeccable Credit Services has been in business for 18 years with two physical locations in the Houston area. We have been ranked as Top Credit Repair in multiple cities by Expertise. Our goal is to not only repair credit, but educate others on credit and how to maintain it. Our motto is Repairing Credit, Changing Lives. We want all of our clients to not only achieve financial success but to have Impeccable Credit. If you have any questions please feel free to contact us 713-378-1500.