Credit Advice » Loans » Delinquency

Delinquency

Becoming delinquent on credit cards and loans can damage your credit history to the point where you may need years to recover. Learn more about delinquencies through these commonly asked questions.

How Late Payments Affect Your Credit Report and Credit Score

The single most important indicator of credit risk is a missed payment. The more recent it was, the greater the impact. Further, the more payments you miss, the longer the recovery.

How Long Late Payments Remain on Your Credit Report

Late payments remain in your credit history for seven years from the date the account first became late.

Authorized Users and Delinquency

If you’re an authorized user on a delinquent account, the account could have a negative impact on your credit profile unless you contact the credit card company and request to have your name taken off the account.

Can Creditors Garnish My Wages?

July 20, 2017

Dear Experian, Can a creditor still garnish your wages even though the account is showing “closed” on my credit report? The account shows as, “Charged off as bad debt....

What Does It Mean to Default on a Loan?

July 11, 2017

Dear Experian, I had student loans in default that have now been consolidated and brought current through another company earlier this year. All student loans are still reporting as...

What is a Grace Period?

June 1, 2017

Dear Experian, If you make payments within the grace period, does that affect your credit report? – TWB Dear TWB, A grace period is a set amount of time...

What Should I Do About Delinquent Accounts?

March 30, 2017

Dear Experian, I have missed a payment of $18 on my credit card. This was my first late payment on any card. This month, my credit score dropped by...

What Is Wage Garnishment?

March 21, 2017

Dear Experian, I recently had a garnishment due to a medical billing and insurance coverage issue. The entire balance was paid in a matter of eight weeks. The collection...

Settled Accounts on Your Credit Report

October 24, 2014

Dear Experian, I recently paid a settlement on a delinquent account. I have the release letters and was told I can send them in directly in order to have the...

Creditors May Not Notify You Before Reporting Deliquency

February 13, 2013

Dear Experian, Do creditors have any obligation to notify you directly of an impending report of a late payment other than a monthly statement? - BNF

Can Delinquency Be Removed from Credit Report

October 12, 2011

Dear Experian, If payment has not been delinquent for two or more years can it be removed from potentially negative status? - FRA

Past Delinquencies are Deleted from Credit Report

July 6, 2011

Dear Experian, Are past delinquencies that have been paid off ever removed from the credit report? Also, do you have someone that you recommend for cleaning up credit? - WHI

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