tracking agencies until you’re 60 or 90 days behind. But they often will thenretroactively report 30-day-late payments. Then there’s the big one: almost
one third of all negative items on credit bureaus these days are from sometype of medical bill. All these affect your credit scores to varying amounts.
to get a car loan.TIP: Make sure you are current with all lenders before trying^
If you try to get a car loan with currently late accounts showing on yourbureau reports, it will be much worse than if you have late payments in your (^)
past. A lender will think, “Geez, if they can’t even pay their why should we give them a loan?” current bills,
COLLECTION ACCOUNTS
None of us like collection agencies. Especially when they track you downfive years after you’ve moved, to tell you about some bill you don’t
remember getting in the first place—that you now owe penalties andinterest on! But it happens, especially with medical bills. If some old $50 (^)
unpaid collecting is on your bureau reports, take care of it—no matter howexasperating it may be. Right and wrong don’t enter into this, only getting
the best loan terms possible. Unpaid collections make getting a decent rateon a car loan nigh on impossible.