2007-02-22 10:21:04 · 3 answers · asked by jamik69xxx 1 in Business & Finance ➔ Credit
Late payments means your creditor get the money, but not on time. Bankruptcy means they don't get the money. If you were the creditor, which would YOU think was worse? Bankruptcy is as bad as it gets.
2007-02-22 10:26:14 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
My Credit Score went from 791 with 0% Revolving Account balances & no late payments to 666 with 1st late payment (actually an error) and 71% utilization of Revolving Credit accounts. I paid off and closed a Credit Card, 68% of my available Revolving Credit.
FICO Credit Score Simulator says 2nd late payment only 10-20 points worse. Does not appear to have Bankruptcy option.
2007-02-22 18:31:56 · answer #2 · answered by Ken S 2 · 0⤊ 0⤋
bankruptcy
2007-02-22 18:25:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋