Question:

How bad are 120 day late payments on credit report?

Answer:

120 late payments can be particularly bad - 90 and 120 late payments on the credit report affect it much worse than anything else. Only foreclosure, bankruptcy, tax lien, collection, settlement and repossession may be as bad.

Simply avoid making 120 day late payments - 4 months of missing payments can get you to foreclosure way too soon than you want.

In comparison, 30 and 60 late payments on your credit report affect your payments much less - mainly through repetitive occurrence. If these late payments are late, the impact on the credit score rating is even less.

You'd better try not to make any 90 or 120 day late payments. It is impossible to remove them even if you pay them off.

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