Delete Late Pay History
Late payments are not created equal; a 30 or 60 day late pay will not damage your score much, and can often be removed. However a 90 day or 120 day late pay will cause significant 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.
A phone call and a letter including the reason is the most effective method. Also be respectful and nice to them because they do not have to remove this mark.
A 90 and 120 day late pay is much more difficult to remove. However if your account is still open then you should contact the lender, and ask for removal of the mark.
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 will not remove this item then we suggest you dispute it directly with the bureaus. This is done through a dispute letter; you can create it or hire a service to do it 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 reason a creditor is able to remove this mark from your file is because they report to the bureaus monthly. Thus all they have to do is not report this negative mark, the next month.
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 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.
A phone call and a letter including the reason is the most effective method. Also be respectful and nice to them because they do not have to remove this mark.
A 90 and 120 day late pay is much more difficult to remove. However if your account is still open then you should contact the lender, and ask for removal of the mark.
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 will not remove this item then we suggest you dispute it directly with the bureaus. This is done through a dispute letter; you can create it or hire a service to do it 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 reason a creditor is able to remove this mark from your file is because they report to the bureaus monthly. Thus all they have to do is not report this negative mark, the next month.
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 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.
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posted by Credit Counseling at
8:58 AM
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