Feb 24 2010
Your credit score and past deliquencies: Part 2 of Credit 101 Series
Past delinquencies make up 35% of your credit score. Obviously paying your bills in full and on time will have the greatest positive affect on your credit score. The credit scoring model looks at the level of delinquency. For example a judgment will have a greater negative impact on your score than a collection. Always try to avoid public records such as bankruptcy, tax liens, and judgments.
Also, activity in the last 24 months has the greatest affect on your score. When looking a credit repair strategies concentrate on activity in the last 24 months first. Pay off collections in Escrow NOT before. By paying an old collection you will make it new again because the date of last activity will change.
If you would like to learn more about credit scoring and how past delinquencies affect your credit score, please contact us at info@intcredit.net.