Houston Credit Repair company Impeccable Credit Services explains how late payments will effect your credit score.

Late Payments

Late payments are payments made after the date that it was due. Typically, a late fee is imposed when your payment is received after the due date or grace period. A late payment or slow pay is what reports to the credit bureaus when a consumer pays 30 days after the payment due date.

If a consumer pays 60 days after the payment is due, they will be considered 60 days late. When a consumer does not make a payment for 90 days the account will report 90 days late. Late payments can damage your credit a great deal. Late payments can lead to a collection over time if there is no intent to pay.

If you are currently 30, 60, 90 or 180 days late this is considered “rolling late.” Many consumers refer to late payments as “slow pay.”

If you have any 30 day late payments you may want to consider hiring a credit repair expert.

Houston Credit Repair

Impeccable Credit Services has been in business for 18 years with two physical locations. Call Houston Credit Repair at 281-419-6811 for Bankruptcies credit repair.

check out Impeccable Credit Services weekly segment Ask Impeccable on YouTube.

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