Repair Your Credit Score
What happens if Your Credit Score gets lowered due to late auto payments, but then you pay off the auto loan?
In repairing a Credit Report score, an auto loan that had two late payments is then paid off in full, what happens to that part of the credit report? How long would it take to increase the credit score?
Since payment history contributes 35% towards the determination of FICO score, late payments would definitely take toll on it. However, there are few more things that would affect.
How much late were you on these loans?
Has your car been repossessed?
If you’re only thirty to sixty days behind the affects may get ebbed out once you become current again.
Credit Repair - Evidence you can Increase Your Credit Score
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Filed under: Improve Your Credit Score
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