We understand that times get hard and sometimes you might just have to be late on a bill to cover a more important expense.
You utility bills like electric, water, cell phone, cable don’t report your late payments to the credit bureaus. You will only see these on the credit report if you fail to pay them for months and they close your account do to nonpayment.
Your mortgage, bank loans, car loans, and credit cards do report payments as late on your credit report if you are more than 30 days late.
These late payments on your report do have a hefty cost, and affect your credit score a lot. So how can you keep your points up and still make ends meet?
The answer is simple, CALL YOUR CREDITOR!
Creditors sometimes do a 1 time courtesy adjustment to allow you time to make a payment if you know you will be late. They actually like that fact that you are making an effort to try to pay them even though you may be going through something.
Clean Slate Credit LLC