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Late Payment

Definition of 'Late Payment'

Where a payment on a credit card or loan is more than 5 days late. These are recorded on your Credit Report for 2 years after the date of late payment. One or two is normal. More late payments, or late payments that become later and later, will affect your ability to get credit.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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