Credit Repair Companies Can't Accurately Eliminate Late Payments From Your Credit Reports. If a payment delay was correctly reported to one of the three major credit bureaus (Experian, TransUnion and Equifax), that delinquency will not be eliminated. Make sure you don't dispute this issue over the phone, unless you find negligence as described above on the creditor's side. In case you find an error, you can ask the creditor to politely withdraw the late payment from your credit report.
If they agree to eliminate the late payment, ask them to send you a letter confirming the same. You should clarify that you want the late payment removed from the credit report and not just waived the late payment fee. Original creditor can eliminate infrequent and infrequent late payments. Write a letter of goodwill and ask the creditor to withdraw the late payment.
Many times creditors, as a gesture of good customer service, will eliminate late payments, especially if you have been a good customer in the past. If you find an incorrect or old late payment on one of your credit reports, you can file a dispute with the credit bureau that issues the report. You can also dispute the error with the creditor who sent the information to the agency, such as the lender, credit card issuer, or collection agency. Ali became involved in the credit repair industry because of her concern about the lack of ethical and effective credit repair services for consumers and mortgage lending professionals.
In addition, I have found that credit cards such as Capital One, Synchrony Bank, Macy's Credit (DSNB), Bloomingdales, Comenity Bank, American Express are more likely to give in to courtesy requests over the phone if you can argue for partial negligence on the part of the creditor. The late payment will become part of your credit payment history and will remain on your credit report for 7 years. If you are dealing with a credit union, you will need to file a complaint with the National Association of Credit Unions. Many “credit repair experts” encourage you to dispute the late payment with the credit bureau with the idea that you are supposed to miraculously get results “if the creditor does not respond within 30 days.”.
Whether you're just starting out in business or repairing your own credit, this is a LIVE experience that has helped many Credit Heroes get their first paying customers, learn everything they need to dispute like a pro, gain confidence, and launch their own credit repair business from the comfort of their home. The credit card company may charge you a late fee, but it cannot report the payment as late to the credit bureaus. Ali is a credit repair advocate with nearly 20 years of experience, providing his clients with high-level access to resources that solve their credit problems. For accounts of authorized users with capital 1 credit card later, instead of a withdrawal of goodwill or courtesy of a capital account, the credit bureaus will delete the accounts with a simple dispute, and even if the authorized user calls Cap One, the process to eliminate the late payment of 30 or 60 days still it would have taken 30 days.
This is a live experience that has helped many Credit Heroes get their first paying customers to learn everything they need to dispute like a pro, gain confidence and launch their own credit repair business from the comfort of their own home. The views expressed here are solely those of the author, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Depending on the credit bureau that provides the credit report with the late payment list, it may be highlighted in some way (for example, with a different symbol or code than what you see for one-off payments). In general, the only late payments that can be removed from your credit reports through credit repair disputes are those that are inaccurate, misreported, baseless, outdated, or the result of fraud.
Under the FCRA (Fair Credit Reporting Act), creditors must report accurate payment histories to credit bureaus. . .