The Connection Between This Month Late Payment and Bad Credit

The Connection Between This Month Late Payment and Bad Credit

Ocak 16, 2019 0 Yazar: Employment

Skip This Month

Some banks or lender companies will offer their customers a special promotion that will allow them to skip a payment at any time and after. Before evaluating this opportunity, please read this to ensure that the payment will not affect the interest to be paid, the interest to be paid or the waiting of your account in a negative way.

This Month Late Payment

However, in reality, there is no such thing as skipping this month and starting again next month. Most financial institutions apply payments made at the earliest amount paid.  This does not only mean that the skipped payment is actually delayed. But all other payments made after that – even if all other payments are timely and complete.

In order to correct a skipped payment problem, please contact the creditors to find out which amount has actually been paid and pay the full amount. The number of late payments will eventually damage your credit rating.