LATE CAR PAYMENT... HELP!
how many points does your credit score down when you make a late payment? and how soon does it post once it's late? i thimk i am in BIG trouble!!! i'm supposed to close next week and i made a late payment!!!
i am referring to a late car payment....
were you 30 days late from the due date? If so, it will show up as 1X30 on your credit report, whenever the finance company reports every month. It can be the end of month or begnning of the month. It all depnds on when they report. If you are not 30 day or more late, you don't have to worry about it at all.
yes, unfortunately, it hit the 30 day mark. I actually paid it on the 30th day, but they say it will post tomorrow...!!
any idea how much my fico will drop? closing is next week!
if closing is next week, it shouldn't matter. They have likely already pulled credit on you. If this is the first time you've been late with this creditor,
if you don't have a bunch of late payments on your report...call them up, and ask if they'll remove it, explain whatever reason on why its late and ask for a break. If your acouple days late they generally don't care...I can't say about 30 days late, i've never been there.
I don't know. Why don't you negotiate with the fienance company not to report the late. Simply explian what happened. If you never have been late before, they may be easy on you this time,
Most companies will give you one late payment per year for free but usually you can't be 30 days late with it. I highly doubt it will report this quickly.
BUT if it does, you may be out of luck. A late payment will drop your score some but it all depends on what the rest of your credit looks like.
well late is not late until the 30 day past due date. so of course a couple days shouldn't matter; it's still not late. but i did go beyond 30 days, and i just wanted to know if anyone knew how bad this would hurt me.
Uh Oh! I think you are in trouble. A lot of times, lenders will pull credit the day before closing to look for things like this, late mortgage payments, late consumer payments, etc. They will likely change your rate because you are now not an A credit borrower anymore. I, being a mortgage broker, have seen this happen many a times. A person is refi'ing, doesnt think he needs to pay his mortgage. Shows up as a late, deal is dead. Or person forgets to pay credit card bills, etc ... doesn't matter a consumer late is a consumer late. Not as big as a mortgage late, but can still definitely count against you... You should definitely be careful when applying for home loans...
HEY!! Don't worry about it move to TN! I'll finance you a house no matter how bad your credit is!
You'll probably be fine. In my research, it takes 30 days for something to show up on your credit report, so if you're payment was due on the 1st, but you paid on the 30th, the company has to report it first and then it doesn't show up until 30 days after that.
Good luck, though.
In most cases, the original credit report is good for 120 days from the date it was done. Depending on how long it has been, if it's less than that it's unlikely the lender will pull credit again. I wouldn't worry too much but definitely try to convince the lender to do a "courtesy delete"
If you have been a good customer, they may work with you.
Good luck!