ST Alpha - "Absolutely. Person two was two months late but paid me. Person one didn't pay anybody." (Reading a Post)

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In response to "If you're a creditor, do you care? " by spamlet

Absolutely. Person two was two months late but paid me. Person one didn't pay anybody.

Posted by ty97 Apr 13 '12, 12:28

Based on that alone, these guys aren't equal. Assuming guy one also has other debts outstanding (credit cards for example) that he WAS paying on time, that makes them even more different.

Your credit score should tank if you file for bankruptcy. Your credit score should drop, but not tank, if you are 60 days late on a single debt. If I'm a creditor, those two situations are worlds apart for me. One guy is a bit of a risk, the other ones a major risk.

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- The calcs on these are maddening. People's scores oftentimes drop when they pay off auto loans early. - David Apr 13, 12:35

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Absolutely. Person two was two months late but paid me. Person one didn't pay anybody.

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