Not paying minimum on credit card for 2 months bad?
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I have 4 credit cards all maxed out cause of my job I had, and now I don't have a job, and boss owes a lot of money that I will never see. Anyway, I have other sources of income, and thought everything was going to be fine, then a lot of things happened, and had to waste money on stuff. For instance I was driving, and all the sudden NO BRAKES. Didn't hurt anybody, or my vehicle, but had to fix the brakes. Anyway, I don't think I will be able to pay the minimum for 2 months. Would that hurt my credit score? I have a really good credit score, and always pay the minimum, but things are tough right now. I listed everything for sale, sold a few things on ebay, but the winner didn't pay, relisted 1 item 4 times, same results. Didn't matter if the person had 15-150 feedback with 100%. I still didn't get paid. I am not too happy right now, but I know in a few months I will be raking in over $120 a day so no more struggling, but don't want these 2 months to hurt my credit score.
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Answer:
Any account that goes past 30 days will be reported to the credit bureaus and will in effect ruin your credit for the next 7 years. You should ask a family member for help even if you just make the minumum payment.
amdfanbo... at Yahoo! Answers Visit the source
Other answers
60 days past due is fairly big damage to your credit score 90 days past due is major damage to your credit score - If you're 60 days past due right now and tomorrow you pay all past due amounts, this will not erase the record of what occurred. The record that you went 60 days past due will be on your credit report for 7 years. Being 60 days past due will damage your credit rating for at least two years.
CatDad
Yes, it is going to hurt - no way around that. And the more cards you miss payments on, the more it will hurt.
Steve D
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