Smith County Bankruptcy Blog

Credit card debt can be a source of difficulty and anxiety for people in Texas. Those who are dealing with financial problems might even miss payments. Ideally, for the sake of the person's credit rating, he or she should continue to make at least the minimum payments on the cards. Sometimes that isn't possible though, and so payments are missed. Failure to make credit card payments has different, increasing consequences depending on how long the payment is behind.

A payment on a credit card is considered late once it is more than 30 days past due. Credit bureaus typically categorize late payments as between 30 and 59 days, 60 and 89 days, 90 and 119 days, 120 and 149 days, 150 and 179 days or 180 days or more. When a payment is 30 days late, the credit card company will typically charge a late fee. Sometimes, these late fees can be waived if the person calls the company and explains the situation. The late payment will likely be reported to the credit bureaus though.