Late Payments… They can haunt your credit report and lower your credit score for years. But, is there a way you can remove late payments from your credit report?
How to Remove Late Payments From Credit
The answer is yes, it’s possible to remove late payments from your credit report. But it’s rarely an easy task. You need to be committed to doing whatever it takes to get either the Credit Bureaus, or the Original Creditor to agree to remove the lates from your credit report. So don’t expect this to be easy or fun (unless you make it fun). This is why Credit Repair Companies are around, because we do this stuff on a regular basis and have setup a process to give our clients the best odds of success. But, not to fear, you can do it yourself too, just watch the removing late payments video:
You Must Check Your Credit Regularly
Don’t get checking your Credit Report with checking your Credit Scores. We want you to check your credit report AND credit scores monthly. Which does cost money, but I pay for it and so does every one of our clients. It’s mandatory if you want to be alerted when you get a late payment on your credit report. Link: http://bitly.com/CheckMyCredit
Always check your Credit and always have a Credit Monitoring Account. If money is really an issue, you can use CreditKarma which is 100% free and will show you 2 credit bureaus and your Vantage Score (This is NOT your FICO Score). If you have a spare $20 per month, get a 3-bureau credit monitoring account. It’s better to deal with Late Payments on your Credit sooner rather than later, the longer you wait to deal with a late payment, the harder it will be to get it removed. That’s why credit monitoring is so important.
Call The Lender Reporting The Late Payment
Start by calling the lender, creditor or bank that is reporting the account late on your credit report. Ask to speak with a manager, don’t stop until you get one! Work with the manager to try and have the late payment removed from all three credit bureaus. They are paid to say no, do just be persistent – don’t get off the phone until they send you a letter that confirms they are removing the late payment.
Send A Goodwill Deletion Letter
If you reach a dead end through your phone calls, then you will want to write a Good Will Deletion Request Letter to the Creditor. You will ask them nicely to remove the late from your credit, don’t be aggressive or act like this is a dispute letter. This is where we want to ask nicely and see if they will fulfill the request. This is not a dispute letter (yet). It will be very simple. List your full name, address account number and birth date somewhere on the letter. Ask the Bank or Lender to please remove the late payments, because it’s causing harm to you and your family. Or it’s hurting your chances of a promotion. Ask them politely, to remove the lates from your credit report. They will usually get back to you within 14-30 days. If that doesn’t work, move to the next step.
Send A Dispute To The Creditor and Credit Bureaus
If the Good Will Letter Didn’t work, now it’s time to get Aggressive! I want you to dispute the account (in writing) with all three credit bureaus and directly with the original creditor. You will clearly list in your letter the reason you are disputing the account. Either, you didn’t receive a paper statement in the mail, or you weren’t late on that date, etc. Send or fax the letter to the Creditor and all three Credit Bureaus.
*Why you should NEVER dispute Online: https://youtu.be/3jtNludKRlE
We hope you are successful removing the late payments from your credit report. If you’d like to schedule a free, no obligation, credit consultation with Jesse Rodriguez, please visit our website:
