A credit score is a prediction the future. 

Specifically, credit scores predict the likelihood that a person will not make a mortgage payment in the next 90 days. 

The best way to predict a person's behavior over the near-term future, history has shown, is to look at that person's behavior over the recent past.

Like Newton said: An object in motion tends to stay in motion.  If a person is having trouble paying their bills today, they'll likely have trouble paying them tomorrow. 

Credit agencies know that "life happens" and that it's normal to face medical emergencies, divorces, job losses and other events that impair a person's ability to make monthly payments on time.

They also know that if payments are missed this month, it's likely they'll be missed next month, too.  Like Newton said.

And this is why the #1 factor in a person's credit score is Payment History.  It comprises 35% of the score.  It is also the reason why credit scores can improve in time with improved behavior. 

Once a person "catches up" with their monthly payments, it can be representative of credit strength.  Perhaps the medicial emergency is over; or, the divorce is finalized; or, the person found a new job.  After getting current, the credit scoring agencies are likely to treat those missed payments as aberrations.

So, want to improve your FICO after missing some payments recently?  Get current, pay your bills on time, and wait -- time will take care of the rest.

(Image courtesy: Wikipedia)

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Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.