5.Go Beyond the Humble Payment History Tips

Payment History Definition - A record of monthly payment status on individual's credit report listed since the time the accounts were established. A payment history is an indication for lenders and creditors whether an individual is a lending risk due to a history of late or missed payments.

Contributing 35% to your score calculation, this category has the highest weight on refining your score, but past difficulties like missed or late payments are not straightforwardly solved.

Humble payment Tips:

• ·         Pay your bills on time
• ·         If you have missed payments get current and stay current
• ·         Be aware that paying off a collection account will not remove it from your credit report.
• ·       If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.

Current Status – This is a rating based on recent accounts as they were reported to the credit bureaus. The best status is called “paid as agreed”, this means your behavior is normal or as expected. The current status is commonly displayed as a numeric value:

Numeric* Status	Meaning
1	Account being paid as agreed
2	1 to 30 days past due
3	31 to 60 days past due
4	61-90 days past due
5	Referred for Collection
6	Unused
7	Account being paid by either a chapter 13 bankruptcy court or a non-profit financial counselor
8	Repossession
9	Account has been charged off

Lenders are responsible to classify the numeric status of an account and report it. Sometimes they are more consumer friendly and do not report a status higher than 1 until the client is several months due. At this point the situation gets seriously risky for them and they will push you to quick-fix solutions that only solve the issue in short-term, and what will happen in long-term? 

When will you have the power to fight back or argue?