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.
Any late payments reporting to your credit report are not recommended. But the severity and effect on your fico score is different. Delinquent 30 or 60 is will have the have the biggest effects on dropping your credit score. In the event your have a delinquency it is not the end of the world you can always pay the be up to current and then your report should read "Current was 30 or 60". When paying the past due bill your score should recover from the late. It may not come all of the way back up to it previous but as time goes on the lower the effect the late should have on your score. If you where to pay the account of then your credit should report "Paid was 30 or 60". This means that you have paid off the account to a zero balance should help your fico score recover from any previous lose. Your best option is to not have any late payments at all but in the event that your do you still have some options to help get your fico score back up. Keep in mind that if you go longer that 60 day the next step the credit reporting agencies will report is "Delinquent 90" days. After being more than not days a lot of lenders will charge off the debt.
