The Moment
You are 60+ days past due on a payment. This is significantly worse than a 30-day late payment: - Your credit score has dropped 75-125 points - The creditor has reported a 60-day delinquency to all three bureaus - Your credit card may have triggered penalty APR (29.99%) - Collection calls may have started - The next milestone is charge-off (120-180 days) — which is much harder to recover from
Immediate Steps
Step 1 — Pay whatever you can today. Even a partial payment shows good faith and prevents further escalation. If you can pay the full past-due amount, do it.
Step 2 — Call the creditor's hardship department. Do not call regular customer service — ask specifically for the hardship or workout department. Many creditors offer: - Temporary payment reduction (3-6 months of lower payments) - Interest rate reduction (from 29.99% penalty rate back to a normal rate) - Fee waiver (removal of late fees and over-limit fees) - Payment plan (structured catch-up over 3-12 months)
Step 3 — Set up autopay immediately. Prevent this from happening again. Even if you can only autopay the minimum, it stops the delinquency clock.
Step 4 — Do not ignore it. At 60 days, you are 60-120 days from charge-off — the creditor writes off the debt and sells it to a collection agency. Charge-off is the most damaging credit event and stays on your report for 7 years. Act now to prevent it.
Run Your Numbers
Review your debt obligations and payment capacity.
Personal Loan Payoff Planner
What to explore next
- →How do I negotiate a hardship plan with my creditor?
- →What happens if my debt goes to charge-off?
- →Should I use a credit counseling service?
Frequently Asked Questions
Can I get the 60-day late payment removed from my credit report?
It is harder than at 30 days but not impossible. Options: goodwill removal request (lower success rate), pay-for-delete negotiation (the creditor agrees to remove in exchange for payment), or dispute the reporting if there are any inaccuracies. If none work, the mark fades over time — its impact decreases significantly after 12-24 months of on-time payments.
Should I use a credit counseling service?
If you are 60+ days late and struggling to catch up, yes. Contact an NFCC member agency (nfcc.org). They can negotiate with creditors on your behalf and set up a Debt Management Plan. This is especially valuable if you have multiple accounts in delinquency.