Bad Credit Strategies Part 3: Removing Late Payments

35% of your credit score is made up of your payment history! Lenders want to know how often you paid your credit account on time. This is the most important factor of your score and is designated with a heavier percentage to reflect that. If you have very few accounts reporting monthly payments, 1 lateContinue reading “Bad Credit Strategies Part 3: Removing Late Payments”

Bad Credit Strategies: Part 1 Charge offs

What is a charge off? A charge-off or “chargeoff” is the declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors will make this declaration at the point of six months without payment.Continue reading “Bad Credit Strategies: Part 1 Charge offs”