Late payments are credit score tankers, especially if they hit the 90+ day past due mark.
If you have late payments reporting on your credit reports, ask yourself: Was I notified first?
Under the Fair and Accurate Credit Transactions Act, there's an ‘Early Warning Notice’ that states a creditor cannot place a negative item on your account until they notify you first.
This notification is a one-time provision (so they won’t notify you every single time they report a late payment or charge off on the same account after the first, initial notification) and can be in the form of a letter mailed to you, an email (if you opted in), your message area of your online account (if you opted in to receive communication that way) or on your billing statement (usually on the bottom or very top).
See why it’s so important to not throw stuff away? See why I always advocate to BE ORGANIZED with your financial records???????
Hope this helps 🙂
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