There are three options for getting late payments off your credit report.

 

There seem to be three tried-and-true methods for removing late payments from your Credit Report:

Ask the original creditor for a "Goodwill Adjustment."

The concept is straightforward, and it works surprisingly well.

If your prior payment history is generally excellent and you have created a solid connection with the creditor, creditors are sometimes willing to offer "goodwill adjustments."

This is arguably the simplest and most reliable method of removing a late payment from your credit record.

The procedure is to draft a letter to the creditors explaining your position (why you were late) and requesting that they "forgive" the late payment and correct your credit record.

Using this goodwill/forgiveness letter format that I made is the simplest way to get started. If you have a lot of late payments, this strategy might not work for you.

 


2. Negotiate Removal by Offering to Sign Up for Automatic Payments

I've never used this strategy personally, but from what I've heard, creditors regularly offer to delete late payment listings if you agree to set up automated payments in exchange.

This technique benefits both parties: the creditor can be certain that future payments are made on time, and you don't have to think about forgetting to pay or being charged late penalties if you miss the due date.

Direct debits, of course, are only useful if you have sufficient funds in your bank account to cover the transaction.

I'd love to hear from anyone who has had success with this strategy!

Many readers have confirmed that this strategy worked for them, so if a kindness letter doesn't help, try this next.

 

3. Reject the Late Payment as Incorrect.

I don't recommend lying or stating that bad information is incorrect when you know you've made late payments.

However, if you discover ANY errors in the late payment entry (dates, quantities, etc.), you can start disputing the missed payment as incorrectly stated.

It's not uncommon for collectors to have trouble validating the specific facts of your account history.

As a result, if you send a dispute letter to the creditor challenging the false late payment, and the creditor is unable to verify it, the negative item can be deleted under the Fair Credit Reporting Act (FCRA).

  • Your name
  • creditor’s name
  • Payment information
  • Account number

Have A Professional Remove The Late Payments 



We realize how stressful credit repair may be.

If you'd like to work with a professional credit repair organization, I recommend Social Credit Repair.

While most Credit Repair organizations charge a monthly membership fee while you're working with them, you may quit at any time, so there's no long-term obligation.

Progress may usually be made in 45 to 90 days for somebody with items that can be questioned.

 


Location: 31w W 34th St., New York, NY 10001, USA

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