There is often a question asked; Can late payments be removed from your credit report? The answer is yes. Delayed payments can be deleted or revised as “never late” in your credit report. There are different options for how to do it. If you do it right, it’s actually pretty easy.
The method you need to choose depends on the late payment as well as your overall credit history, your creditor relationship, and the amount of money you spend on these efforts. Here are the four most effective ways to successfully revise a delayed payment from your credit report.
1. A Goodwill Adjustment Request
This option is cost-effective and efficient. If you have a good payment history and your customer request for a while this option is based on the exact size. By requesting a goodwill intention adjustment, we want the old customer to pay late payment as a goodwill indicator according to the customer request.
Doing this is quite complicated and costly. The only thing to do is to create a credit card or write a letter to the lender and explain your situation. Are you trying to perfect your credit score so that you can get a mortgage or auto loan? Did you have any unexpected expenses that delayed your payments last month? All you found was writing
With the customer service representative reading your letter getting an idea why this might be helpful. The chance to communicate with someone, the creditor, the late payment agreement, but the risk of losing one customer.
2. Offer to Sign Up for Automatic Payments
An automatic payment order offer can also help you. In exchange for such a bid, the creditor may agree to delete your late payment. This option is a win-win method for both parties. (Win-win)
Finally, in addition to the negative item you removed from your credit card, you get the convenience of not thinking about when you pay your bill every month. Your creditee will have the advantage of knowing that you will receive payment on time every month.
This plan works very well if you have not experienced any serious problems in your account in the past. And in addition, if you can prove that you can meet the automatic payments financially, you will have more chance of accepting this option.
The option to sign up for automatic payments is good for long-term customers as it requires goodwill correction. Finally, if you overcome the financial obstacle that prevented you from making payments in the past, the process will accelerate.
3. Dispute the Late Payment with the Credit Bureaus
If none of the previous options has enabled the successful removal of your late payment, it is time to appeal late payment directly to the credit bureau. Do this if you find any incorrect information about late payment in your credit report.
Check your history tables, notifications, or expressions to make sure the correct address for the date, payment amount, and other details.
Anything that lists the late payment invisible set him a dispute letter attached to a credit bureau. This comes in the future of your credit reports, the necessity of checking your information for three years: Experian, Equifax, and TransUnion.
You should receive a response within 30 business days as required by law. This is a good option if you have trouble with cash and you cannot pay a professional’s money or if you have time and planning to investigate and conduct an effective dispute.
4. Working with a Professional Credit Repair Company
If you don’t trust your ability to successfully challenge late payment on your own, there are a few popular credit repair companies that can help you.
The best credit repair firms have knowledgeable legal experts on staff to help you. Even if you have more negative items than a few late payments in your credit report, they can help with many disputes.
It is easy to make a free consultation call just to get ideas about the cost and the services they offer you. It’s a good idea if you’re not sure of your ability to work with a professional, lose time, discuss your own skills, and have some buffer space for this short-term expense in your budget.