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The lender who you owe.
They can, but they don't have to. They usually will if you have had a good payment history with them in the past. If you have been late a lot, you can try to negotiate to pay off the debt to remove the late payments.You can also try and dispute the late payments to the credit bureaus. If they don't verify it with in 30 to 45 days, the late payments must be removed.
They will not repossess a vehicle unless you have defaulted on the loan. Defaulting on the loan is being late with the payments. Call the lender and talk to them.
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
No.
As your lender about the specific reporting policies. For the most part, late payments are not reported until the payment is at least 31 days late. Repeated late payments and excessively late payments will shave points off a credit rating.
For one to get a credit card settlement, you would need to be far enough late in your payments for your credit card to consider settlement. If you are late, you would call and make an offer.
Seven years. However, they will have less effect as time goes by. For example, late payments over a year old do not harm your credit as much as late payments from last month. Late payments over 2 years old are generally ignored.
Between 7 and 10 years
A delinquency usually refers to an account with late payments. The late payments report on the account for 7 years.
no, you just get hit with a late fee.
Yes, they will report the late payments to the credit bureaus which will damage your credit score, and if enough payments are missed can commence a foreclosure action on the property.
Obvious answer, Yes.