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If you are these people who are always making late payments for reasons that are controllable, then you should know that there are disadvantages that you might not know about. Aside from the fact that it will reflect on how you handle your personal finances, these are the other disadvantages of making late payments.
A common question that we get asked a lot is how to improve a credit score. I tend to challenge the notion that we need a good credit score in the first place, since the way it is calculated really makes it an ‘I love debt score’. The FICO score is based on such things as the amount of debt outstanding, the available credit outstanding, payments history, etc.