Can late payments affect my credit file?

Can late payments affect my creat file? The short answer is that yes, your credit report will most likely display any repayments which are 14 days overdue or more. Continuous missed payments on the same debt will count as separate late payments, and as such will reflect on your credit file.

There are two types of late payments that affect your credit report, according to credit-reporting bureau Equifax:

Late payment: Payment was more than 14 days late past the due date. Late payments are classed as “repayment information” and they stay on your credit report for up to 2 years.

  • Default: Payment was more than 60 days overdue and the due amount was $150 or more. Defaults stay on your credit report for up to 5 years.
  • Serious credit infringement: Payment was more than 60 days overdue for $150 or more, and the lender has sent a written notice to your last known address but you have not contacted them or paid the debt. The lender waits 6 months after the sending notice then lists infringement on the credit report. Infringements stay on your credit report for up to 7 years.

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