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Credit Reports
Types of Credit Reports:
-Single
-3-in-1
-Credit Monitoring System
-Free Credit Report
Credit
Report Basics:
-Ordering
a Report Yearly
-Common
Questions
-Determining
Scores
-Interpreting Reports
-Disputing
Errors
--more
basics
Credit Achieving Tips:
-Improving
Credit Scores
-Building Credit
-Re-building
Credit
Identity Theft
Mortgages
Auto Loans
Personal Loans
Debt Consolidation
Credit Cards
Home
-Taxes
-Managing Money
-Credit Help
-Checking Accounts |
LATE PAYMENTS
Payment history is one of the most influential
factors in regards to credit scores and as a determining
factor for lenders and anyone else that runs your
credit. It is very likely that lenders will be less
willing to lend to you or will charge you a higher
interest rate based on your payment history. Many people
are unaware that in most states, auto insurance rates
are calculated for the most part by your credit score.
Having a poor payment history can also hurt your chances
for obtaining a job. Potential employers are going to
look at your credit report, as opposed to your credit
score, when examining consumer reports (background
checks) to put together a picture of you, especially if
you are being considered for a high-level or financial
job.
The good news:
The impact of late payments diminishes over time. The
formula typically goes like this: One year out, late
payments are counted as 94 percent negative, at two
years, 55 percent; three years, 32 percent; and by four
years it's down to 20 percent negative.
Credit Score Blunders
-Account
in Collections
-Court
Judgments
-Foreclosure
-Bankruptcy
-Too
Much Debt
-Late
Payments
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