How late payments impact your credit score?
If you make partial payments or miss them altogether without formalizing an arrangement with your lender even if you missed payments are COVID-19 related- you can expect them to be reported to the credit bureaus and to appear on your credit reports as delinquent. (Late payments made without your lender’s consent can hurt your credit score significantly). However, as noted above, if you qualify for COVID-19-related relief measures, you can lower your payments without incurring delinquencies and protect your credit score. Credit site note: It’s always best to keep up with your debt payments if you can… Things are slowly returning to a “new normal” but even in the new normal late payments will affect your credit score. #llimitless #creditgoals #creditscore #fixurcredit #goodcredit #badcredit #creditimprovement