Credit Monitoring reported to our frineds at Household Watch that the average FICO credit score dropped 50 to 90 points when the consumer is reported as “late 30.” You must be able to trust your creditors and never let an account get 30 days late. You should write to the lender and put your account in a ‘disputed’ status if anything looks wrong.
When HSBC reported payments as “late” and was sued and settled under Shea vs Household, the cost of credit soared for many consumers who did nothing wrong. HSBC owned Household International and Retail Services as a wholly owned subsidiary while payments were intentionally credited late. (see more)
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Late 30′s drop credit score 50 to 90 points, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
