Level of delinquency on accounts
Image: Kevin Cortopassi
What it means: Delinquency refers to payments that were late. The general rule of thumb is that the further you fell behind, the greater the impact to your credit score.
What you can do about it: If the information is inaccurate, you can dispute it. If it’s correct, you’re going to have to live with it for a while; usually up to seven years. Focus on making your current payments on time. If cash is tight, remember that all you have to do is make the minimum payment on time to avoid a delinquency on your report.
Reason 5: Time since delinquency is too recent or unknown »