medical circumstances...that had set you back for 3 months...so your minimum payment COULD NOT be paid...but you did send something every two weeks...How much could your credit go down????...everything else is up to date....can you just guesstimate for me....if i write them it will take 2-3 weeks for a response....just your guess please???
2007-09-30 18:48:23 · 2 answers · asked by sweet 4 in Business & Finance ➔ Credit
Because your score is based on many factors it is impossible to even guess how many points it will drop.
If the net amount of the two payments you are sending is not the required minimum for that month you are considered in default. Once you go into default your score will take a hit, it could be anywhere from 10-100 points. If you let it get behind by more than 3 months there is a good chance the company will charge it off and sell the account to a collection agency. Once this is done you can expect another hit on your report and dip in your score.
Now if you get them to agree to reduced payments BEFORE you become in default. It should not effect you at all because you are paying based on the new agreement.
2007-09-30 19:23:35 · answer #1 · answered by OC1999 7 · 0⤊ 0⤋
My guess is it would go way down maybe 150 points if you get to 120 days late.
2007-10-01 02:34:51 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋