Just a quick question. This past summer I fell behind appx 3-4 months on all credit card payments. Only one went to a ca, but I dont even pay them I pay the original creditor. The rest remained in the original creditors collection departments. I worked things out with the my original creditors. Some put me on programs that lowered my interest rate and put me on set payment amounts for a year others demanded the whole min balance (which included all min balances missed plus late fees). I am all paid up now and paying minimum blances on all cards on time every month. Is it better for my credit that I begain to pay off the original creditors and got things right before all the accounts went to ca's or got charged off? Or is my credit going to be just as messed up anyways because i missed so many payments? Just wondering. Thanks in advance for any responses. Ps- havent checked my score yet am not mentally ready!!
Speaking from experience, I would say having your account transferred to a CA would be more damaging and longer-lasting to your credit. How much your credit is affected also depends on how your late payments are reflected on your credit report. Are they recorded as 30 day lates, 60 day lates, or 90 day lates? Obviously, the 90 day late would be most harmful to your credit. Also keep in mind that lates for one type of credit may affect your credit different than that of another. For example, a late payment on your mortgage will have a greater negative effect than a late payment on your credit card.
