Does deferred payments hurt your credit?

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asked Feb 12, 2020 in Credit by 9phisiwi (310 points)
Does deferred payments hurt your credit?

1 Answer

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answered Feb 12, 2020 by LindaHartzell (26,630 points)
The deferred payments should not hurt your credit score even though the company will report the payments as being deferred to the credit bureaus.

So it should show up on your credit report that your payments are being deferred.

If possible it's best to avoid deferred payments though because it's not gonna help your credit score and only defer payments on loans, etc if you need too and cannot make the payments like you should.

It's best to try to make the payments on time or at least pay something instead of having the payments deferred.

I did notice a slight drop on my credit score after a year of having deferred payments but the credit score returned to normal a year later.

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