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, 👀

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. ✅