02.08.2010
The average man out there knows that your credit score would be severely affected when you make late payments, or miss payments altogether. Nevertheless, most do not know that in terms of credit ratings and score, one single payment that is late by 90 days can be as damaging as filing for bankruptcy! And it doesn’t even matter if your payment is merely USD 100, you would still fall into the same late payment category and the effect would be severe. 35% of your overall credit score is judged by the punctuality of your payment, and that is more than one third of your score.
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