If a payment delay was reported correctly. Credit Repair Companies Can't Accurately Eliminate Late Payments From Your Credit Reports. If a late payment was reported correctly to one of the three major credit bureaus (Experian, TransUnion and Equifax), the late payment will not be eliminated. Be sure not to dispute this matter over the phone unless you find negligence as described above on the part of creditors.
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 need to clarify that you want to remove the late payment from the credit report and not just waive the late payment fee. A creditor can no longer offer any forgiveness for late payments unless the late payment is due to creditor error.
If you ask a creditor to remove a late payment as an act of goodwill, it will get you nowhere. 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 answered yes to these questions, you are unlikely to be able to eliminate late payments, whether you hire a credit repair company or try to do it yourself. 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. If you are dealing with a credit union, you will need to file a complaint with the National Association of Credit Unions. And if the late payments are correct, neither the credit repair company nor anyone else will remove them.
Therefore, if you want to dispute the same late payment that appears on all three credit reports, you will need to file three separate disputes, one with each credit bureau. If you are tempted to hire a credit repair company to dispute late payments on your behalf, keep in mind that your fees can amount to hundreds or thousands of dollars. You might also consider consolidating several smaller credit card balances into one larger credit card or personal loan. A lower credit score will also affect the interest rates you get if you get approved for a credit card or car loan.
Credit repair companies typically charge a monthly subscription fee while you work with them, but they're also easy to cancel and there's no long-term commitment. Credit repair experts like those at Lexington Law can remove inaccurate negative information on your behalf. 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. I know there are numerous credit repair companies out there, some good and some not so good, but none that I have seen share the work they do and educate their customers.
The reason you should eliminate late payments from credit reports is that late payments are extremely detrimental to credit ratings Many people are struggling with their finances and cannot afford professional credit repair or legal services. .