Remove Late Payments from Your Credit Report
Late payments are not equal; a 90 day or 120 day late pay will cause a large amount of damage and is seen as a very negative mark by lenders. However a 30 day or 60 day late payment will not do much damage.
You can remove a 30 and 60 day late pay from your report by contacting the lender and asking them to erase it. Frequently they will do this in order to keep you as a customer and in their good graces.
We suggest a phone call and sending them a written letter with a brief explanation as to what happened. Additionally it will go a long way if you are polite and respectful during your communications.
A 90 or 120 day late pay will be more difficult to remove. We still suggest contacting the lender, if your account is still open, and ask them to remove the mark.
It is a good idea to make sure your account is up to date before asking them to remove the item from your report. The lender will often look at your payment history to see if late payments are common with your account.
If you can not get the mark removed we suggest you dispute it directly with the credit bureaus. This is done by creating a dispute letter and mailing it to each bureau or you can hire a service to do this on your behalf.
This mark will stay on your report for a maximum of seven years. Additionally your account will go to collections after 180 days or six months of delinquency.
The lender can remove a late pay from your report because they report regularly to the bureaus. All they have to do is not report the late payment the next time they report to the bureaus, typically monthly.
Your only way of getting help from the creditor is if you account is currently in good standing. Additionally there is information about negative marks and that they will stay on your report for 7 years.
This is not true; any item can be removed at any point in time, the maximum amount of time an item can remain on your report is seven years. There are a few exceptions such as a bankruptcy. The Fair Credit Reporting Act clearly says that the maximum amount of time is seven years. There is no minimum amount of time an item must stay on your report and can thus be removed at any time.
In sum the first step is contacting the lender, if you still have the account, and then if that is unsuccessful dispute it directly with the bureaus.
You can remove a 30 and 60 day late pay from your report by contacting the lender and asking them to erase it. Frequently they will do this in order to keep you as a customer and in their good graces.
We suggest a phone call and sending them a written letter with a brief explanation as to what happened. Additionally it will go a long way if you are polite and respectful during your communications.
A 90 or 120 day late pay will be more difficult to remove. We still suggest contacting the lender, if your account is still open, and ask them to remove the mark.
It is a good idea to make sure your account is up to date before asking them to remove the item from your report. The lender will often look at your payment history to see if late payments are common with your account.
If you can not get the mark removed we suggest you dispute it directly with the credit bureaus. This is done by creating a dispute letter and mailing it to each bureau or you can hire a service to do this on your behalf.
This mark will stay on your report for a maximum of seven years. Additionally your account will go to collections after 180 days or six months of delinquency.
The lender can remove a late pay from your report because they report regularly to the bureaus. All they have to do is not report the late payment the next time they report to the bureaus, typically monthly.
Your only way of getting help from the creditor is if you account is currently in good standing. Additionally there is information about negative marks and that they will stay on your report for 7 years.
This is not true; any item can be removed at any point in time, the maximum amount of time an item can remain on your report is seven years. There are a few exceptions such as a bankruptcy. The Fair Credit Reporting Act clearly says that the maximum amount of time is seven years. There is no minimum amount of time an item must stay on your report and can thus be removed at any time.
In sum the first step is contacting the lender, if you still have the account, and then if that is unsuccessful dispute it directly with the bureaus.
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For a free credit repair letter used to dispute the bureaus visit us or you can get a free credit repair consultation by calling 1-866-246-7311, also you can see more tips to credit repair by visiting us.
posted by Credit Counseling at
2:51 PM
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