Credit Score

Question: Will paying late car notes improve credit score?

(Posted by: milton on 2010-03-12 10:41:56)

Posted by: Jerry on 2010-03-13, 02:02:52

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Posted by: MoneyMonkey on 2010-03-12, 10:44:41

Paying them late, or paying off notes that have a history of late payments? Your questions is a bit vague. Late payments hurt your credit score. Paying off loans is a positive. Staying out of debt is the best thing you can do for yourself in the long run.

Posted by: kelly on 2010-03-12, 10:46:11

Better late than never. It won 't improve your score since you 've already failed to meet the contract agreement and that has hurt you, but it will be better than if you don 't pay at all. Learn responsibility now before your credit 's completely screwed.

Posted by: Dixie Darlin' on 2010-03-12, 11:39:42

No, once the account is reported as late to the credit bureaus it will be reported on your account for 7 years. Anytime that you are over 30 days late on a payment to major creditors, who report to the credit bureaus, it will reflect negatively on your credit report. You will have to pay your car loan to current status, if you expect to keep the car.