3 Specific Tips For Removing a Late Payment On Your Credit Report

Written by on December 27, 2012 in Money - No comments | Print this page

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credit-companyMany, many people have late payments on their credit reports. How many of us have missed one or two payments here or there?

We might have lost our job and it caused us to fall a month or two behind on a couple bills while we were in transition.

Christmas may have caused us to fall behind in a payment or two. We might have simply forgotten to make a couple payments. Or we might even have late payments on our credit reports that didn’t actually happen, they may be completely inaccurate.

No matter what the case, there are ways for you to get these late payments removed from your credit reports.

Here are 3 specific tips for removing a late payment from your credit report:

1. Ask for a goodwill adjustment

If you only have one or two late payments with a creditor, but you have otherwise good payment history with them, it would be worth your while to contact that creditor and ask them for a goodwill adjustment on those one or two late payments. You see, as a customer of theirs who typically makes their payments on time, your creditor values your business very much.

They want to keep you around for a long time. So, many times they are willing to make exceptions in order to keep you happy. If they can keep you happy, they can keep your business. So, many times your creditor will be willing to have those late payments removed for you.

2. Sign up for automatic payments

There are few things that creditors like better than customers that are signed up for automatic payments. This gives them direct access to your bank accounts for your payments every month (don’t worry, they don’t have the permission to take out more than you’ve agreed to). This is a great way for them to ensure that they are getting their payments every month.

So, if they aren’t willing to remove your late payments from your credit reports on a goodwill adjustment, see if they would be willing to remove them if you signed up for automatic payments with them. They may be willing to negotiate with you to remove your late payment(s) in exchange for you signing up for automatic payments.

3. Hire a Credit Repair Agency

Some of your late payments that are showing up on your credit reports may be completely inaccurate. In fact, the majority of people actually have inaccurate items on their credit reports. So, if this is the case with you, you may want to hire a credit repair agency to help you get these incorrect items removed from your credit reports.

This is a guest post.  Nicole has experience with battling poor credit, and has learned through experience how to rebuild your credit. She enjoys sharing that knowledge with others.

Image courtesy of stockimages / FreeDigitalPhotos.net

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