If you are behind on your bills and are being hounded by your creditors, the experience can be unsettling.  Many people are curious as to how long it takes for their past due accounts to be turned over to a third party collections company or collection agency.

It Can Take 90-120 Day For Your Account To Go Into Collections Continue Reading »

What happens to my fico score if I am reported late? If you are late paying on your credit card bill by thirty days or more, it will get reported to the credit bureau as a late. I have seen credit scores drop as much as 100 points just by having one late payment. If you are trying to buy a home and the credit late is within a 12 month period it may keep you from being able to buy or refinance your home.

Does having to pay the late fee automatically mean that I will be reported as late to the credit bureau? Continue Reading »