Late Payments and Credit Report Repair

Not all late payments are the same and one particular type of late payment could destroy your credit score.

A single 30 or 60 day late payment on your credit reports will likely not have a serious effect on your credit score. In most cases, your credit score will recover when you make your payments and the account is no longer reported as currently past due. As long as you are not habitually past due on your payments, your credit score should escape from being too damaged.

A 90 day late payment, however, is a serious negative mark on your credit reports. In fact, it does not matter whether or not the account is listed as currently past due. Either way, the late payment can significantly impact your credit score.

90 is a magic number when it comes to late payments. Exceed it and kiss your good credit goodbye.

The credit scoring system was developed to help creditors predict your credit risk. This includes how likely you are to be seriously late on your payments. Because a 90 day late payment is determined to be a good indicator of how likely you are to be late on your payments again in the future, a single 90 day late payment factors heavily in your credit score.

So how bad is it to have a 90 late payment on your credit reports? Based on the effect it has on your credit score, a single 90 day late payment is about as damaging as a collection account, judgment, tax lien and even a bankruptcy.

30, 60, 90 and 120 day late payments: Lexington Law has helped remove them all.

Fortunately, you have the right to dispute questionable late payments on your credit reports. Whether you have a single 90 day late payment or a series of lesser late payments, if they are being incorrectly reported on your credit reports, you can dispute them with the credit reporting agencies and the lender who reported it.

Lexington Law can help you with this. Lexington Law has helped our clients remove over 35,000 inaccurate, untimely, misleading or unverifiable (questionable) late payments from clients credit reports in the past 3 months. Lexington Law's Concord level services help you with both aspects of disputing questionable late payments by providing unlimited credit bureau and creditor disputes.

In addition to helping you remove questionable late payments from your credit report, Lexington Law has also helped clients successfully remove a variety of other questionable negative credit items such as collections, charge offs, judgments and more.