Remove Late Payments from Your Credit Report
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.
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 mark is much harder to erase. If you account is still open, we suggest you contact the lender.
It is a good idea to make sure your account is up to date before making this request. Typically if the lender sees a history of late payments they will not remove it.
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.
The negative item will be on your report for a maximum of seven years. Your account will go to a collection agency after 180 days 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.
If your account is not in good standing, it will be very difficult to convince the lender to remove the mark from your report. Also there is a lot of information that says a negative item must stay on your report for seven years.
This is false, seven years is the maximum amount of time most negative items can remain on your report. The Fair Credit Reporting Act passed by Congress made this law. There is no minimum amount of time a negative item has to be on your report.
In sum if you can not negotiate removal of the mark directly with the lender you should dispute it with the bureaus. This is done through a dispute letter written yourself or by hiring a service to do it on your behalf.
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 mark is much harder to erase. If you account is still open, we suggest you contact the lender.
It is a good idea to make sure your account is up to date before making this request. Typically if the lender sees a history of late payments they will not remove it.
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.
The negative item will be on your report for a maximum of seven years. Your account will go to a collection agency after 180 days 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.
If your account is not in good standing, it will be very difficult to convince the lender to remove the mark from your report. Also there is a lot of information that says a negative item must stay on your report for seven years.
This is false, seven years is the maximum amount of time most negative items can remain on your report. The Fair Credit Reporting Act passed by Congress made this law. There is no minimum amount of time a negative item has to be on your report.
In sum if you can not negotiate removal of the mark directly with the lender you should dispute it with the bureaus. This is done through a dispute letter written yourself or by hiring a service to do it on your behalf.
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For more tips to Improve Credit Score or to learn about credit repair services visit us. Additionally if you would like a free credit repair consultation call 1-866-246-7311.
posted by Debt Consolidation Loan at
3:22 PM
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