Consumer payment history is the largest aspect of the credit score, as you might expect. In total payment history accounts for 35% of the total score.
This aspect of the total score calculation is based on prior payment history with creditors. Late payments, defaulted accounts, bankruptcies, and all other negative information on the credit report have the greatest effect.
The scoring model is based on your potential to go 90 days late on an account within the next 2 years. Any recent late payments are a big reflection that the consumer will default, and their credit score plummets as a result.
Altogether, payment history accounts for 35% of the total consumer credit score. The more positive accounts clients have, make for a much higher credit score.
So insure you help clients obtain new positive credit on their report, while you are working on disputing inaccurate accounts.