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greggwyburn · Joined: 13 Sep 2009 Posts: 60 0.00 Dollars($)

What is the difference between 15 days delinquency & 30 days delinquency?

Guest

A 15 day late will not be reported on your credit report and a 30 day will which will adversely afftect your credit scores. However you also have to be concerned with a late fee showing on your account statement

Jerry

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gmakerley · Posted: Fri Sep 25, 2009 2:42 pm Post subject:

basic difference is 15 days, gerry...what a wonderful question.

and jerry is right on in his analysis.

gmakerley · Posted: Fri Sep 25, 2009 2:43 pm Post subject:

oops...not "gerry" but "gregg"

greggwyburn · Joined: 13 Sep 2009 Posts: 60 0.00 Dollars($)

so one has is in danger even if late by just 15 days.

marklavender1 · Joined: 13 Sep 2009 Posts: 120 -0.14 Dollars($)

yes, since mortgage lender will start charging late fee after 15 days.

gmakerley · Posted: Sat Sep 26, 2009 9:37 am Post subject:

"danger" isn't quite an appropriate description of being late 15 days on a mortgage loan. yes, late charges hurt and add to expense, but they won't put you in much jeopardy, other than depleting your available funds.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

It is not only the late charge but the impact of that to your credit can cost your more than the late charge

If you credit score is low due to the actions like this, you will have to pay more interest every time you want get a loan or credit card

frankmcdowell2000 · Joined: 07 Sep 2009 Posts: 57 0.00 Dollars($)

regular delinquency may result into reporting to repoting to credit report. Then it will be snow ball effect.

gmakerley · Posted: Mon Sep 28, 2009 7:42 am Post subject:

once again...a 15 day late payment will result in a late charge. it will not cause damage to one's credit report. your payment must be 30 days late or more before a lender will report a 30-day late payment to the credit agencies.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats correct 15 is ok, but 30 is what is going to kill you

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