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How to Improve Credit by Getting Late Payments Deleted

Though many consumers don’t believe it, or maybe don’t want to believe it, just one late payment can damage your score dramatically for up to two years. A single missed payment can drop your score by about 50 points. Even after those 2 years, while the late payment may not hurt the score as much, lenders will be able to see your transgression for up to 7 years.

The Effects of Late Payments

A late payment may not ruin your credit to the point that you’ll be denied for credit or a loan, however it may very well mean higher interest rates; which over time generally adds up to thousands of dollars in extra payments - and that's why it's imparative you understand how to improve your credit.

It is especially vital for consumers trying to improve credit to avoid late payments. Credit repair clients are usually trying to demonstrate to potential lenders that while they may have made financial mistakes in their past, their recent credit history shows their newfound responsibility. A late payment just resets that clock back down to zero, and indicates to lenders that you’re still careless with the credit that you already have.

The Solution

It seems like such obvious advice: pay your bills on time. Yet late payments are one of the leading causes for most bad credit scores. If you can’t pay back the loan or credit you are being extended, don’t borrow it. Unfortunately the reality is that if you’re reading this, you have probably already crossed that bridge. By negotiating with your creditors and disputing potential inaccuracies, deleting late payments in order to improve bad credit is a solution that may get you back on the road to a better financial future.

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