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77: Newest delinquent or derogatory status on installment accounts is too recent
An installment account is one with a fixed monthly payment for the life of the loan. Auto loans and student loans are common examples of installment loans. You have an installment account that had a late payment or on which a lender has reported a derogatory status. Your credit file shows that this event occurred too recently. Late payments are a proven indicator of increased risk. People with late payments are at risk of being overextended, putting existing credit with lenders at risk.
What you can do:
Paying bills on time every month is important to maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time.
A HIGHER LEVEL OF CONFIDENCE
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