Delenquent Credit Card Payment Tips

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Posted: Thu Sep 30, 2004 9:30 pm
Post subject: Delenquent Credit Card Payment Tips

Shannon
Date: 2/5/2001 5:40 pm CDT

I am in the process of trying to negotiate payments with my credit card company's. I have been delinquent with several payments and it has been reflected in my credit report. I was wondering if you could tell me which is reflected more negatively on my credit report: Delinquent 60 or 90 days once-Paid in full, or Settlement-Paid in full. I am trying to pay off my cards in full within the next 3 months to re-establish my credit. Is it also true that it will take 7 years before either option listed above is removed from my credit report? Thank you!

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Posted: Thu Sep 30, 2004 9:31 pm
Post subject: Delenquent Credit Card Payment Tips

Board Monitor - CA
Date: 2/8/2001 9:52 am CDT

Shannon,

Thanks for your post! I am not an expert on credit reports by any means, but I believe that Delinquent 60 or 90 days once- Paid in Full would be preferable. I remember attending a loan class while I was working in the banking industry and the instructor noted several times that an occasional late payment was not that "big of a deal" in terms of approving a loan. As for the second part of your question, please see the post above entitled "re-establishing good credit for couples". It addresses this issue.

Hope this helps!

Best Regards,
Curtis Arnold
CFCCT P.R. Dir.
http://www.cardratings.org

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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