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