Sometimes you KNOW you are going to have to pay a payment late. It might be for your cell phone or your credit card, but the day might come where you just don’t have the money to get all those pesky bills paid in a month.

There are many monthly bills you pay which don’t report to the credit bureaus. These include your utility payments such as electric and water, cell phone bills, car insurance, rent unless specified that it is being reported, gas bills, TV and cable, and other utilities. Other companies do report on your credit report such as car loans, mortgages, installment loans, and credit cards. These accounts WILL put a negative item on your credit report if you pay them 30 days late.

If you do find a month where you are going to be late, there is a secret solution you must know. Call your creditors! Many of them will work with you, AND many will allow for a “courtesy adjustment”. This means just because you are communicating with them they allow you to go more than 30 days late and they won’t report it against you. Only some creditors do this, and those that do will only do it once.

But if you are going to go late, this simple phone call can save your credit scores from dropping over 100 points. And YES, a late payment CAN drop your credit scores over 100 points. Call before you are late to insure you have a healthy credit profile and healthy financial future.

Contact us today to learn how you can have the exceptional credit you deserve.