www.shotcredit.com

A big part of why consumers have bad credit or think that they have bad credit is because of what is reported by the Credit Bureaus. The perception of most Credit Bureaus is that they are this big bad black hole and that when something goes into thier credit report the information can never come out; or at least for ten years. The thing is that Credit Bureaus are definitely big, but they are only big companies. They just collect a ton of information about consumers from lending institutions, banks, credit unions and collections agencies. Credit Bureaus put all of the information together; put all the information into a math problem, assign a score and spit the information back out in the form of a credit report to all of the same lending institutions, banks, credit unions and collection agencies that gave the information. The source that most auto dealers get your credit from is not from the Credit Bureaus but through a Credit Reporting Agency (CRA).

30 and 60 day late payments on credit reports are a common for customers that have had trouble maintaining good credit. There are a few different ways that credit reporting agencies report late payments.

The different ways that a 30 or 60 day late is reported are:

"Current was 30" or "Current was 60" which means that the account was late by 30 day or by 60 days but is now current with a balance.

"Delinquent 30" or "Delinquent" means that the account is currently past due 30 days or 60 days.

"Paid was 30" or "Paid was 60" means the account was past due but is now paid with no balance on the account.