Posted on
May 29, 2008
at
3:31 pm
I am in Australia, and not sure about what exactly affects my credit score. I have had two bills that I did pay quite late, due to some family issues going on. They wouldn't let me extend payments or anything, so I just let the threatening letters keep coming. One of my accounts got close, but I did pay out the debt owing still. The other I got fully paid and reconnected. What is default as well? I heard if a bill goes to default, it goes on your credit score. Is that when you don't pay a bill at all? Thanks anyone that knows abit more about this.
Posted on
May 29, 2008
at
4:53 pm
I can't really speak for Australia, but in the US at least your credit report should show the closed account as paid in full but with reports of late payments for each month you were late.The other one will show as being in collection if its gone into default. Both are factored into your credit score and will lower it, but having accounts currently in collection is a lot more damaging that ones that were previously in collection/late.
Posted on
May 30, 2008
at
12:30 am
So.. I'm a little confused at the moment Jeremy.. My phone, that I got reconnected, that has more affect because it was reconnected? Hmm.. that's a little strange.. Yeah, I have no idea too much about the whole credit score and stuff.. I am just way to afraid to find out mine
Posted on
July 27, 2009
at
9:19 am
What exactly effects your credit score? The following is the FICO score breakdown: Payment History: 35% Amounts Owed: 30% Length of Credit: 15% Types of Credit: 10% New Credit: 10%
