credit late payments: is 2X30 same as 1X60?

Question

is 2X30 = 1X60?
or 3X30 = 1X90?
2X60=1X120?

PLEASE LET ME KNOW.

Answer 1

No they are different.

2x30 means two separate 30-day lates. It means you may have been issued a 30-day late notice, but paid. Then the situation repeated itself.

1x60 means you haven't paid your bill in 2 consecutive months. It's much worse than a 2x30 because it means you havent paid for 60 days in a row, and if it continues, you'll hit a 1x90 which is a huge problem. Make sure you settle any upaid bills before you reach that mark, as your score will plummet.

Learn about mortgage, credit, and personal finance at:

http://www.thetruthaboutmortgage.com

Answer 2

No! 1x30 means you were late by 30 days 1 time. 2x30 means twice and so on down the line. 1x60 means you were late by 60 days and so on. Your credit bureau will probably show 2x30 and 1x60 at the same time.

Answer 3

no not at all. Especially if the 2x30 were back to back. This is called a rolling 30 in the mortgage industry.

Answer 4

No.

2 X 30 indicates 30 days late twice

1 X 60 indicates 60 days late once

Here is some additional info. Hope this helps.

Answer 5

no its not the same, the longer time without paying hurts you more than having a shorter time of paying late.

1 x 30 is better than 1 x 60 or however many times your late past 30 days. it shoes the credit company that you dont care about the loan if you go 2 months without paying the minimum

Answer 6

I would say no. Definatly check the fine print. Remember the Credit companies are in business to make $$$. And they always hide stuff in the fine print.

Answer 7

No if you have paid late twice at however many days that has to be recorded as such against the dates that this has happened. If not they are falsifying your account, which to put it in focus is fraud.