How to Get Late Payments Off of Credit Report

A late payment can have a huge impact on a total credit score especially if the payment is 60, 90 or even 120 days late. Timely payments can contribute up to 35 percent of a total score. This article will provide you step by step advice on what to do if you have delinquent payments on an account.

Instructions

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First start by getting recent copies of your credit report from all three major credit bureaus (i.e. Equifax, TransUnion and Experian.) Once you have received your reports, check them for inaccuracies. If there is an inaccuracy, you can file a dispute with the credit bureau to have this removed. The original creditor will have to prove that the information is correct. If they do not prove this in thirty days, then it is considered inaccurate and should be removed from your credit report. This is one of the easiest ways to get bad marks removed.

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Another way to have a late payment taken off is by talking to the creditor yourself. If you have had good payment history, or if it has been a few months since the late payment and payments have been made on time since then, then a simple request to the creditor might help. This is called a goodwill request and is simply done by writing or calling the creditor and explaining your situation. This doesn't always work but works often if you still have an account with them and they want to keep your business. It doesn't hurt to try.

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Speaking of still having an account with the creditor, another way to get a late payment removed might be by signing up for automatic payments. The creditor is insured of getting their payments on time and then there shouldn't be anymore late payments. Sounds like a win-win situation to me.

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Finally, you can always dispute an account and hope that the creditor doesn't prove the tardiness within thirty days so that it will be removed. This isn't exactly an honest thing to do but there are people that are desperate and do this. The best way to remove a late payment though is to not be late or possibly face the seven years that it can affect your credit score. Good luck either way!