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desperatemom

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why is my score so low?
I only have $19,000 in debt, all my old accounts are closed. I do have multipe missed or late payments. Do late payments lower the score that bad?

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Yep. Low score.

What is the 19,000 in debt from?   Is it an auto loan?  Credit cards?  Is it an actively open account that you are paying on or is the account in collections or has it been charged-off?

You have multiple missed / late payments.... those kill your score.  The first one, when less than 30 days late isn't so big compared to multiple mised payments and over 90 days late.  A creditor starts serious collection activity after 90 days.  

How many open accounts do you have?  To have a good score, you need to be actively using credit responsibly...  more than 5 accounts (3-4 credit cards, an auto loan, a mortgage would be a good mix that creditors like).

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. Do late payments lower the score that

Yes They Do.

Never Every Be Late on a Payment.

Never Every Miss a Payment

Ever!

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Score

Why did my score drop so low?

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