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Paul Yamilkoski

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There Is No Such Thing As Not Very Late

Subtitle Goes Here

“I Wasn’t Very Late!”

If you’ve ever played Jenga and watched a tall tower crash to the table, I’m sure you can picture my face.

This particular client had been referred to me by a loan officer friend of mine.

Things had started out as a pretty straight forward program. The gentleman was about 30 points shy of being able to qualify for his mortgage, and we discovered a small group of collections reporting on his report that were not his.

This should be a pretty cut and dry endeavor, I remember thinking to myself.

That is always a dangerous thing to let yourself think. And I have been in the business of credit restoration long enough to know better. But we had 4 collections showing on his report that were not his. We had documentation to prove that they weren’t his.

To top it off, they were each less than about a year old, and therefore were creating a significant impact on the scores, in the grand scheme of things. It was very reasonable to think we could be looking at 40-50 points improvement, once they were removed.

Then I heard my client utter those words that you never want to hear, “I wasn’t very late”. There was that Jenga tower suddenly making it’s painfully slow and unstoppable crash to the table.

You see he had let a payment on a credit card slip his mind and he didn’t pay it when he normally did. In fact it was 31 days late. He had gotten really busy with some other activities in his life. Who of us has never experienced a lapse of memory during hectic time? It wasn’t that big a deal was it?

“Crash!” go the blocks as they scatter across the table.

Not that late, is like not that pregnant, if you will pardon my change in analogy from the Jenga game. In credit you don’t want to allow your self the luxury of thinking that a little late is acceptable. That is a dangerous an slippery slope, because it is just a matter of time before you hit day 31.

Once you hit day 31, you will get reported late on your credit. Sure, the company may forgive the late fees, but you can pretty much count on the late history being reported.

In this case, the lapse in memory just cost my client nearly 100 points on his credit and a year before he could get a mortgage, the time being due to a lender requirement to have 12 months clean payment history, but that is for another writing.

Suffice to say, he now clearly understands that, in credit, there is no such thing as not very late.


Feel free to let me know if you have questions or comments and I hope you have a wonderfully blessed day!

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