How to Remove Late Payment Record Off of your Credit Report?
Written by: Sam Kwak, Credit Coach @samkwakofficial
Let me guess, you checked your credit today and you found out that there’s a late payment on your credit report? Have no fear! I’m going to show you how you might be able to remove your late payment record off of your credit report. Here’s the thing… If you have legitimately been late consistently on your bills, then I can’t be much of a help here for you. But that doesn’t mean we’re shutting down the possibility of repairing your credit and helping you get back on track of having a great credit. Even if your credit is totally trashed right now, don’t give up. Work with me here because I’ve been dedicating my life in helping people with poor credit.
Step 1. Obtain a copy of your credit report
The first and foremost thing is to make sure there aren’t any errors, inaccuracies or unverifiable records on your credit report. That also goes to say with the late payment records as well. If you know that the late payment record is yours but it’s reporting incorrectly or untimely, you may have a shot at either removing it completely or correcting the information so that it is reporting accurately. Write down all the mistakes, errors and/or inaccuracies in your credit report. Also find out if the record is reporting on all three of the major credit bureaus. Now, in my experience… 99% of the credit reports almost always contain an error. All it takes is a trained eye to spot them!
Step 2. Dispute The Inaccurate, Unverifiable and/or Untimely Records.
Second, you’re going to dispute the records that are deemed inaccurate or are simply an error on your report. Here’s a HUGE TIP… DO NOT DISPUTE ONLINE! Never ever! This is the #1 rule when it comes to disputing a record on your credit report. When you dispute, always write a letter. So you’re going to write letters to the credit bureaus asking them to verify the record in question. Don’t accuse the bureaus for the inaccuracies, simply ask them to investigate the record to see if it’s reporting accurately and in a timely manner. Only write letters to the applicable bureaus. Don’t make it awkward by disputing a record that is not even being reported by the bureau. Be sure to include your social security number, your full name, and your birthdate in your letter. Also, include photocopies of any 2 form of a government issued ID with the letter to verify your identity. Otherwise, the bureaus may choose not to investigate your record. When you send the letter, send it with a certified mail. It will cost you around $3.30 plus postage so be prepared for that.
Step 3. Wait for the Investigation Process
After you send your dispute letters to all the applicable bureaus, (commonly all three), it’s a waiting game for there. It’ll take about 30-40 days for the bureaus to investigate. Sometimes you may get the results earlier but keep an eye on your mailbox. It’s gonna be a boring process but just wait for it 🙂
Step 4. Dispute Results!
After 3-4 weeks, you should have gotten your dispute results from the bureaus. They’ll send a nice little letter saying that they have completed the investigation process. They would have either verified, deleted, updated or provided new information about the record(s) you have disputed. If the record you’ve disputed have been deleted, CONGRATULATIONS! You went through a successful credit repair process. If you’ve received a letter saying that the bureaus have verified your record and nothing has changed, you can do either one or two things. One…You can ask the bureau to reinvestigate the item. Remind them what items are being reinvestigated and do the same process from step 2 when it comes to sending them the mail. Two… You can challenge the investigation by asking them to provide a written statement as to how they investigated the record. At the same time, you are going to send another set of mails to the original creditor/lender asking them if any of the bureaus have contacted them in regards to the investigation process for your record. According to the Fair Credit Reporting Act, the credit bureaus are required to conduct a fair and a reasonable investigation that involves in contacting the original creditors. Clearly, if you can provide a proof to the bureaus that they have not conducted a reasonable investigation process, you may have an advantage as far as possibly removing your negative record off of your credit report. This is a VERY ADVANCED dispute process so you may need an assistance from a professional credit repair team like Fix Score Now.
If you would like my personal help in the dispute process, contact us to get started!