I am working on getting into full time investing.
I missed one month payment due to transition. I am paying 2k a month in support. Mind you that I have nevered missed a payment in 4 years.
Any way, now the state is reporting my late payment to credit services and it will be on there for 7 years.
What can I do… beside paying it…
Thanks!
One late payment will not destroy your credit. As part of my judgement, the ex was supposed to refinance the house in her name within 60 or 90 days (can’t remember now) of the divorce date. She didn’t do that and then quit paying on the mortgage. Since I’d been supporting her and her live-in loser for a couple years by that point (while fighting for custody of my kids), I just let it go and refused to pay the mortgage. It ended up being about 4 months behind and I had threats of foreclosure. I ended up getting a secondary judgement to force her to sell and we got it sold about 2 weeks prior to foreclosure proceedings. That mess dropped my score by probably 100 points. I also sucked up a lot of credit card debt from the divorce as well. I worked hard and got all the cc debt paid off. Guess where my score went…right back up 100 points. So there’s probably nothing you can do to dispute this late payment. You admitted to it. But what about paying down something to help yourself out? You probably can’t fight the state on this one, but you can offset the damage by doing something else productive for your credit report.
If you or your ex’s income has changed considerably since the divorce, you may consider another hearing to have the amount changed.