A credit grill? my credit score dropped last month because of a deferred (but

my credit score dropped last month because of a deferred (but paid) mortgage payment..i paid past its sell-by date my credit cards except for one with a small balance immediately i know it hasnt been even 30 days but should i wait to be in motion trade in my car for a different one (im trying to downsize everything) because of my rack up? i screwed up one month and now im paying for it but i learned my lesson and im tryign to trade adjectives my big possesions into smaller more affordable ones. so is it too soon or will they see that ive paid off a hulking portion of my debt?

I don't THINK that 1 late payment will wreck havoc contained by your life. We are living in a time where on earth you never know what's next. Also with gas prices, overloaded inventory, auto dealer are making such great deals..., even to those with blemished credit..i.e. Ford have 0% financing for 60 mths, so I don't think you are in such philosophical trouble. What I would suggest if possible that you have a copy of a current credit report, your pay cheque stubs, bank statements, etc.. and get a concord negotiated without them doing a credit report. Explain your situation(truly) them tolerate them do the work. Good Luck!!

if you estimate that waiting a month or two will bring up your credit score than I would wait. The cause being is that your interest rate on the car you want to purchase will be base on your credit score.

By the way, congrats on your downsizing and purchase control of your finances!

Answer:
Late payments do hurt your credit.

If that was the first and only time you hold been late on that loan, I would suggest writing them a righteous will letter. Explain your situation, tell them that you savour doing business with them (yeah schmooze em) and ask if there is anyway that they can forgive that belated and change your report to never late.

Just be sure that your reason are valid and not simply things like: I didn't have the money at the time or I forgot to transport it.

Generally, if you have a good plea such as illness, death within the family etc., they may work with you on it.

As for the paying rotten a large portion of debt, that will look good to any creditor.

theres a compnay that lend money on an intergrity basis, that is you will do the right point and pay them when you have money to foot

Trading a car isn't difficult...you may lose a little on the interest rate but you'll still accomplish your goal. I'd also dispute any outstanding credit bills this November...because December is a busy time for them to respond. I learned abundantly this from mycreditadvise.com it help me and my wife understand and clutch steps to correct my credit score and buy our first home.
take trouble.