Late Payment impact on Credit Score

FAQ:


Will this 30 day and a 60 day late hurt my credit? 😱😱😱


I get a lot of questions about late payments.


Here is the general score penalty; however, it will vary by the scorecard (which is basically you up against others in your community)


Typically - 30-day lates will have a 9-12 month penalty, πŸ‘€


60-day lates 2-2.5 year penalty. 🀯


A major derogatory like a 90-120 day late can impact the score for the full 7 years; 😱


however, around the 48-month mark very little impact is left. Especially if you’ve outweighed the negative payments with posts one’s. βœ…


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