How to Remove Late Payments from Your Credit Report
Although a couple of late payments that are less than 30-60 days are not too damaging to one’s credit, it is still a good idea to preserve a good credit standing by knowing how to remove late payments from a credit report. In our society, where credit is essential to obtain needed items and increase quality of life, it’s wise to guard that credit by all means possible.
What most people aren’t aware of is that consistent late payments of 30-60 days, or late payments that exceed 90 days, are just as damaging to a credit report as other types of defaults, such as bankruptcies, collections, or repossessions. It doesn’t matter the amount, as a payment made late on a $25 credit card bill is just as negative as one missed on a $2500 mortgage. Once this occurs, it will remain on your credit report for 7-10 years unless you intervene to have it removed.
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In the case of only missing one or two payments which are less than 30 to 60 days late, it is fairly easy to have those infractions removed. Simply contact the involved creditor and give them an excuse as to why you were late and kindly request that they remove it. Follow up the initial contact with a letter for the removal of the late payment. This will generally get the late payment dropped. However, this will not work if you have numerous payments that are 30-60 days in arrears.
Another method which creditors respond well to is to agree to make automatic payments in exchange for dropping the late payment items. If the creditor knows they will receive future payments on time via this method, it is easier for them to forgive past payment faults.
Verify all credit report line item information. If you find anything amiss, you can dispute the charge by reporting it in writing to the three credit bureaus. They will investigate the charged amounts and the information surrounding them and, if they find anything to be errant, they will remove the items.
If you have numerous late payments, or one or more late payments over 90 days, it is to your benefit to contact a credit repair service to assist you with deleting them. A good credit repair company has the knowledge and experience to go toe to toe with tough creditors and collection agencies and get satisfying results.
In this age of credit, it pays to clean up and guard your good credit score.
