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Late Payments and Your Credit: Tips to Minimize the Damage

Laura explains what happens when you make a late payment, how your credit is affected, and gives tips to minimize the potential damage. Plus, she answers a question from a long-time Money Girl Podcast listener who’s wondering what to do about an account that accidentally became delinquent.

By
Laura Adams, MBA
Episode #482

 

Chalk It Up to a Learning Lesson

Few people (including me) can say they have never missed a payment due date. It’s not fun to slip up and get penalized for it, but it’s not the end of the world either. Don’t beat yourself up about it. Follow my four tips to minimize the damage and consider it a learning lesson.

If you're ready for help managing debt, building credit, and reaching big financial goals, check out Laura's private Facebook Group, Dominate Your Dollars! Request an invitation to join this growing community of like-minded people who want to take their financial lives to the next level.

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Hand Writing Overdue Account image courtesy of Shutterstock

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a trusted and frequent source for the national media. Her book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show. 

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