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.
This mark can be deleted by the lender as a way to keep your business and keep you happy. We suggest you contact the lender and ask them to delete the mark.
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.
Make sure your account is up to date before you ask them to remove the mark. Lenders will often make this decision based upon your payment history.
If the lender is not willing to remove the mark we suggest that you dispute it with the bureaus. You can do this be writing a dispute letter and sending it to each bureau or you can hire a service to do this for you.
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.
A lender can remove this mark because they report monthly to the bureaus and can choose what to report to them. Thus if they do not report your late payment the next month then it will not be on your credit history.
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; a negative item can be removed at any time. Seven years is the maximum amount of time it can stay on your report. The Fair Credit Reporting Act says this and many collection agencies have lost law suits because they did not abide to the seven year maximum.
In sum we suggest contacting the lender to remove this item. If that can not be done then you should dispute it directly with the bureaus, through a dispute letter.
This mark can be deleted by the lender as a way to keep your business and keep you happy. We suggest you contact the lender and ask them to delete the mark.
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.
Make sure your account is up to date before you ask them to remove the mark. Lenders will often make this decision based upon your payment history.
If the lender is not willing to remove the mark we suggest that you dispute it with the bureaus. You can do this be writing a dispute letter and sending it to each bureau or you can hire a service to do this for you.
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.
A lender can remove this mark because they report monthly to the bureaus and can choose what to report to them. Thus if they do not report your late payment the next month then it will not be on your credit history.
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; a negative item can be removed at any time. Seven years is the maximum amount of time it can stay on your report. The Fair Credit Reporting Act says this and many collection agencies have lost law suits because they did not abide to the seven year maximum.
In sum we suggest contacting the lender to remove this item. If that can not be done then you should dispute it directly with the bureaus, through a dispute letter.
About the Author:
For a free credit repair letter used to dispute the bureaus visit us or you can get a free online credit repair consultation by calling 1-866-246-7311.
posted by Debt Consolidation Loan at
11:41 AM
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