Personal Credit Repair Services

If 30 or 60-days late payments are rare, they shouldn't damage your credit score unless they are recent (in the last two years) or occur repeatedly. If, however, you are commonly late with payments, you will establish long-term harm to your credit scores.

Even 30-Days Late is a Killer

It's a different story should you have a 90-day late payment. When that happens, the credit scoring models consider you very likely to repeat it. One 90-day late payment can injure your credit for seven years if something is not done to fix it. Hard to believe, but a one-time 90-day past due payment is as harmful to your credit score as a bankruptcy. When you are 90 days late, creditors consider you a more significant risk where they label you as a "repeat offender."

Past Due Payment Consequences

❌   30-days past due: A 30 day late payments ruin your credit score most when it is new, especially if you are 30 days late often. 

❌    60-days past due: Similarly, new 60-day late payments do the most harm. However, being consistently 60-days past due will undoubtedly hurt your scores. 

❌    90-days past due: Having a 90-days past due record on your credit report will significantly hurt your credit scores for up to seven years. It doesn't make a difference if your account is 90 days late. Remember, the record model's goal is to anticipate whether you will be 90 days late again for any credit obligation. If you have previously been late for 90 days, the bureaus consider it more likely that you will be late again.

❌  120+-days past due: Late payment reporting beyond the original 90-day missed payment does cause additional credit score damage. However, your score has an additional incidental impact because the debt is usually "charged off" or sold to a third-party collection agency. This activity is reported on your credit reports, which lowers your credit score even further.

Collections, Charge-Offs, & Repossessions

When you consistently fail to make payments beyond 90 or 120 days, the following consequences only make things worse:

2 Types of Personal Collections

1). Collections that are sold to third-party collection agencies.

2). Collections turned over to an internal collection department.

Regardless of which one appears on your credit reports, your scores will suffer.

Charge-offs

If you are unable to pay on a credit account for 120 days or more, many times a creditor will "charged off" your debt as a loss. Of course, a charge-off is hugely damaging to your credit score, where it can linger for seven years! This can happen even if you pay off the debt at a later date. And just because the creditor has "charged-off" your debt not expecting you to pay it, the third-party collection agencies do. And they will continue to report to your credit report up to 7 years, or until they transfer or sell the debt to another collection company. 

Repossessions and Foreclosures

When a home forecloses or a car is repossessed, they are considered severe delinquencies and will lower your credit scores considerably for seven years. Even if the bank takes possession of your home or car, the failures to pay will still show negative because you signed a contract to purchase the home or auto and pay for it in full over a period of time. The agreement's breach shows as a default of the transaction, which is then reported on your credit report.

The bottom line is to avoid making late payments, but we know sometimes it's unavoidable due to unforeseen circumstances. But we also know that one 30 or 60-days late payment isn't the end of the world, especially since we can help you quickly. Our goal is to keep you away from collections. Do not worry if you're already there because we have proven strategies to help in that department.

Even 30-Days Late is a Killer

It's a different story should you have a 90-day late payment. When that happens, the credit scoring models consider you very likely to repeat it. One 90-day late payment can injure your credit for seven years if something is not done to fix it. Hard to believe, but a one-time 90-day past due payment is as harmful to your credit score as a bankruptcy. When you are 90 days late, creditors consider you a more significant risk where they label you as a "repeat offender."

Past Due Payment Consequences

❌ 30-days past due: A 30 day late payments ruin your credit score most when it is new, especially if you are 30 days late often.

❌ 60-days past due: Similarly, new 60-day late payments do the most harm. However, being consistently 60-days past due will undoubtedly hurt your scores.

❌ 90-days past due: Having a 90-days past due record on your credit report will significantly hurt your credit scores for up to seven years. It doesn't make a difference if your account is 90 days late. Remember, the record model's goal is to anticipate whether you will be 90 days late again for any credit obligation. If you have previously been late for 90 days, the bureaus consider it more likely that you will be late again.

❌ 120+-days past due: Late payment reporting beyond the original 90-day missed payment does cause additional credit score damage. However, your score has an additional incidental impact because the debt is usually "charged off" or sold to a third-party collection agency. This activity is reported on your credit reports, which lowers your credit score even further.

Collections, Charge-Offs, & Repossessions

When you consistently fail to make payments beyond 90 or 120 days, the following consequences only make things worse:

2 Types of Personal Collections

1). Collections that are sold to third-party collection agencies.

2). Collections turned over to an internal collection department.

Regardless of which one appears on your credit reports, your scores will suffer.

Charge-offs

If you are unable to pay on a credit account for 120 days or more, many times a creditor will "charged off" your debt as a loss. Of course, a charge-off is hugely damaging to your credit score, where it can linger for seven years! This can happen even if you pay off the debt at a later date. And just because the creditor has "charged-off" your debt not expecting you to pay it, the third-party collection agencies do. And they will continue to report to your credit report up to 7 years, or until they transfer or sell the debt to another collection company.

Repossessions and Foreclosures

When a home forecloses or a car is repossessed, they are considered severe delinquencies and will lower your credit scores considerably for seven years. Even if the bank takes possession of your home or car, the failures to pay will still show negative because you signed a contract to purchase the home or auto and pay for it in full over a period of time. The agreement's breach shows as a default of the transaction, which is then reported on your credit report.

The bottom line is to avoid making late payments, but we know sometimes it's unavoidable due to unforeseen circumstances. But we also know that one 30 or 60-days late payment isn't the end of the world, especially since we can help you quickly. Our goal is to keep you away from collections. Do not worry if you're already there because we have proven strategies to help in that department.