Are you finding yourself in need of a car repair and have no money put aside for such an emergency? If you get your car repaired you won’t have enough money to pay the credit card bills on time. This is one time that borrowing a little money and paying some interest (or a fee) might be worth the trouble.

If you don’t find a way to at least borrow the money to pay the credit card bills you could have problems for the next 4 years. If you don’t make your payments on time the credit card companies will report your late payment. Each Credit Bureau reports those late payments and since this history makes up 35% of your credit score, each late payment hurts your credit score in a large way. Not only does it really hurt your credit score, it can do so for up to four years. Some Credit Bureaus report that payment history for up to four years and at least two years.

It certainly is better to have paid your credit card bills on time (even if it is only the minimum payment) than it is to have a late payment. Even if you call your credit card company and make arrangements to pay your bill late that does not mean that they won’t report your payment late. They will report that tardiness to the credit bureaus and leave you with a damaged credit score.

So no matter what you do make that credit card payment on time to keep your credit score up. Paying a small fee for borrowing money from a paycheck loan place is better than allowing your credit score to be damaged. That damage could cost you thousands of dollars but could all be avoided by borrowing a little to make those payments on time. Keep your good credit on track.

About the Author:

Mel Jensen is a retired Customer Service Manager with Ovation Credit Services.

Many people make mistakes that affect their credit almost every day. You can’t make a payment on time so now that late payment gets reported to the Credit Bureau. The Credit Bureau reports that late payment and now your credit is severely damaged. What if this is a mistake, can it be corrected?

If the mistake is your mistake and you did not make the payment on time, then you will have to live with that mistake. You can speak with the Creditor and find out if they are willing to re-age the account for you. If they do that you will have to make a specified number of payments on time. If you complete the arrangement successfully they will change your history to show all payments being made on time.

Now if your creditor made a mistake and reported a late payment, then you should speak with your creditor and dispute it with the Credit Bureaus. If you are positive that your payment was made on time then by disputing it the Credit Bureau will contact your creditor and verify the information.

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Credit Card Debt Consolidation May Lessen Your Payments – But Make Sure You Don’t Jump Out of the Frying Pan into the Fire

Credit card debt consolidation is a process that involves taking all of your outstanding credit card balances and turning them into a single balance with a single payment. It is a process of taking all your bills and consolidating them into one lower monthly payment.

A credit card debt consolidation loan is one way of consolidating credit card debt. This type of loan is a regular debt consolidation loan, re-engineered to help you deal with skyrocketing credit card debts.

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