Typical CCR issues: How so when do later re payments harm my credit rating?

Typical CCR issues: How so when do later re payments harm my credit rating?

Here at Credit Savvy, we have expected plenty of concerns and also as area of the popular CCR Questions series, we’ll tackle a couple of questions that are common belated re payments:

Q: just how do belated payments impact my credit history?

A: most of us are making late or missed payments within the past so we can all agree it is maybe not really a feeling that is pleasant. Just one missed repayment could run you a belated cost by the business and possibly keep a black colored mark on the credit file, therefore inside your credit rating.

With Comprehensive Credit Reporting (CCR), credit providers have the ability to record a late or payment that is missed your credit report in the “repayment history information” whenever your re payment is finished fourteen days later. Belated re payments can remain on your credit report for approximately two years.

Keep in mind, only your payment history from credit providers who hold A credit that is australian licence be recorded. Continue reading “Typical CCR issues: How so when do later re payments harm my credit rating?”