Is accepting a payment plan for my credit card debt the kiss of death on my credit report?

I have been getting 30 and 60 lates on my report and I can't seem to pull out of this cycle of lates now that my rates are so high. My score is in the toilet. Will it be even worse when my report shows that I am on a payment plan, or can this be the first step into repairing my credit?

Is accepting a payment plan for my credit card debt the kiss of death on my credit report?
A payment plan is an excellent idea and will definitely help your credit. As long as you pay on time, your creditors will report to the credit bureau that you are in "good standing". It's in your favor to establish a payment plan, and if you're going to be late with a payment, call the company and ask for an extension.
Reply:Having a payment plan and not being late is a lot better then continuing to pay late. Sounds like your credit is already in the toilet so a payment plan with no late payments has got to be better.





Once you pay on time for 6 months to a year, or so, the delinquencies won't be on your report anymore. I was delinquent for a couple of years on my college loan and I've paid it regularly for over a year now. Those late time don't show up on my credit report anymore.
Reply:It's the way to start repairing your credit score.


Your score is already ruined