Do late payments still effect you the same way when an account is closed?

[Anonymous]

I have multiple lates on one account and am wondering if its closed if they will still have the same scoring impact?

[Anonymous]

I can't think of any logical reasons why it wouldn't, or else people would just close accounts to get around the impact of late payments, like in this case I assume.

[RobertEG]

Closing an account does not negate the fact of prior derogs, and does not even prevent the creditor from continuing to report additional delinquencies after closing.

Closing is primarily used on revolving accounts to prevent the consumer from increasing an already delinquent debt by making further charges.  It does not affect continued billing of debt, and reporting of delinquencies based on late or lacking payments of the billed debt.

[Anonymous]

The closure can in fact hurt your score still further, e.g. in the case of a credit card with a positive balance. 

[Anonymous]

Yes, the same adverse scoring impact will be true if you close the account.

[Anonymous]

Closing is primarily used on revolving accounts to prevent the consumer from increasing an already delinquent debt by making further charges.