How to Remove Late Payments From your Credit Report

February 6, 2023

Are you interested in How to Remove Late Payments From your Credit Report? Your credit score simply shows anybody that wants to lend you money or anybody that you want to borrow money from whether you are likely to be back.

literally in your credit score, your payment history is one of the most important factors in fact it accounts for a whopping 35% of your credit score. The meaning issue has late payment is a big problem but today we are going to take a look at how to remove late payments from your credit report.

Anybody who has a late payment or fees on his or her credit report he’s definitely not going to be able to get loans mortgage or order finances quickly and in the case they do they will get the ones with interest rates. This is why he may be looking to eliminate the late payment of fees from your credit report and that is what is article is all about today. Careful with low for the week sometimes let’s go ahead and jump in

Can let me make been removed it From your credit report?

It is very important for us to have an understanding of whether what we are going to be embarking on today can work. Now late payment can appear on your credit report as a result of two things you actually made your payment late or you did not pay late but the lender regarded it as a late payment. In the first situation, there is really nothing much we can do about it and it might end up staying in your report for up to 7 years.

But in the second situation if you actually did not make late payments however the lender also ended up recording it in your credit report that made that payment this is where you can fix it. So the answer to the question is yes and no you can only fix your late payment record in your credit report if the lender mistakenly recorded it as a late-payment record or entry in your report. Legitimate late payment records cannot be removed.

How to remove late payments from your credit report

Whether the late-payment entry in your country boy is legitimate or it is as a result of a mistake all you can do is ask and try to convince the lender to remove it from your credit report. There are certain things that you need to follow in order for you to be able to do that and even after doing that if the late payment is legitimate it might not get. But the ones that are there as a result of a mistake and definitely going to be removed.

Review your credit report

The first step is to review your credit report because a regular review of your credit report from the three major credit bureaus will ensure that there are no mistakes. Should a case you find out that there is a mistake they cannot take appropriate steps in order to have the mistake removed from your report because they hurt your credit score and your ability to get loans and others.

So what you have to do is to make sure you request a free credit report from the three major credit bureau which is Equifax Experian and transunion. When you get them it is now time to start the review process after the review process you can now go over to step 2.

Look for late payments whether incorrect or correct

As I mentioned earlier today we are going to try to correct both inaccurate late payments and accurate late payments so what you want to look for in your credit report is our late payment. So make sure to currently scrutinize your credit report to look for any late payment entry whether it is correct or it is inaccurate.

Call your lender

From the information in your credit report, you can now call your lender buy a phone to ask that you have your payment history which is correct or incorrect deleted. If the person you are talking to cannot help you you can simply ask them to give you through to someone that is having the power to do so like a manager. When you are now talking to the person that had the power to remove it now politely make your case.

Write a Goodwill letter

Even after talking to the person in charge and they agreed to remove late payments of fees whether accurate or inaccurate and also need to write a Goodwill letter. It is the Goodwill later that will give you when you formally Express and explain why you needed a late payment history to be removed from your credit report. You can also go the extra mile by including proof that supports your claim.

It is very important to note that if the late payment history is accurate they are not obligated to remove it however if you make a strong case they might just be inclined to help you expunge it from your report. However, I did not at least you tried but one thing is sure the inaccurate ones will be removed immediately.

How do late payments impact credit scores?

Late payments will impact your credit score because your payment history accounts for the highest portion of your credit score which is 35%. This means that if this score drops then your credit score is definitely going to take a hit if you miss a payment by 30 days or longer your credit score might drop as much as 100 points. This is why you seriously have to keep an eye on your payment history.

How long will it be misty on my credit report?

When a late payment entry is recorded on your credit report there is only one thing you can do which is to appeal to the lender to expense it if it is accurate if it is inaccurate you can also contact the lender to expense it which will be done. Is the late payment history accurate the lender might not be inclined to remove it and if they don’t it is going to stay on your credit report for up to six years?

But as time passes the impact of a late payment record on a credit score with degrees is because lenders do not really take into consideration your past credit history but more on your recent. So if you do not get any more late payment records enter into your credit history in the future you might just be able to come out alive.

How to Remove Late Payments From your Credit Report

Can let me make been removed it From your credit report?