After 30 day late payment hits your credit then what?

Question

im assuming that my soon to be ex is just behind on his payments but what if he continues to pay every month after that?

Answer 1

Late payments are a major score killer.
They will remain on your credit reports for 7 years from the date of the late.

You definitely need to speak with your soon to be ex and find out what is going on.

You didn't mention what type of account it is. If it's a credit card account and you are a joint user, you might request that your stb ex get a loan to pay the account off then close it.
If it is a vehicle and you are on the loan, you might request that he sell it and pay the note off or get another loan in his name only.
Without listing every type of loan or credit, you can see my point - get your name off of the account.

If it is an account where you are only an authorized user, dispute the account with the CRA's as not having the account in your name - since legally it is not your account.

Once you get your name off of the account, you might send the creditor a goodwill letter and explain the reason behind the late payment. Request that they remove the late payment notation from your reports.

If you are an authorized user or the account gets paid off and closed, you may lose the entire tradeline when disputing with the CRA's or requesting the creditor to remove the late notation.
If that happens you would probably take a hit on your scores for losing the account, but it would be much better than living with a late notation for the next 7 years.

Keep in mind that as long as your name is on the account, if he eventually defaults on it, it will go on your credit reports as a default and you may be held liable for it.

Answer 2

then his report will say he was 30 days late in 8/07 and life will go on.