Posted on: 28th Jan, 2009 04:11 am
how the delinquencies of credit or payment history is calculated?...On the default of the due date payment customer's credit or payment history will get marked as delinquent, what are all the different methods to calculate the delinquencies?
Hi gvijaya,
As far as I know, your individual creditor will report your delinquencies to the credit bureaus and they have their rules by which they calculate the delinquencies which affects the credit score of the borrowers.
Thanks
As far as I know, your individual creditor will report your delinquencies to the credit bureaus and they have their rules by which they calculate the delinquencies which affects the credit score of the borrowers.
Thanks
Hi Gvijaya
If you do not pay by the due date, there will only be a late mark on your credit report. Delinquencies in credit is calculated if you do not make any payment towards the debt for a continuous period of six months, or in other words, a credit account is marked as delinquent after 6 months from the date of your last missed payment towards the debt
If you do not pay by the due date, there will only be a late mark on your credit report. Delinquencies in credit is calculated if you do not make any payment towards the debt for a continuous period of six months, or in other words, a credit account is marked as delinquent after 6 months from the date of your last missed payment towards the debt