Remove Late Payments from Your Credit Report

By Matt Douglas | January 1, 2009 | Popularity: 1% (?)

Late payments are not created equal; a 90 day and 120 day late pay will cause your score to be dramatically lowered. However with a 30 day or 60 day late pay it will cause very minimal damage to your score.

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 item will be on your report for a maximum of seven years. Additionally your account will be charged off after 180 days 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; 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.

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.

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