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After Christmas 2006, I was 30 days late on two credit cards, and boy they couldn't wait to report it. I am now back on track and have sent the past due and current amount due. How long will it take for the "30 day past due" grid on my credit report to show up as "current" again without the derogatory information?

2007-01-31 02:08:59 · 7 answers · asked by twiigy 4 2 in Business & Finance Credit

Please no derogatory remarks. It is pretty much understood that consistent good payments are required. However, I am speaking of a one time occurence, and therefore seeking possible resolution of a one time issue, not a quick fix for repeated offenses. I appreciate MCBarnes approach to my question.

2007-01-31 02:31:18 · update #1

7 answers

Late payments can stay on your credit up to 7 years. My advice to you is to contact the credit card company and ask them to remove the items from your credit. If it was a one time occurence they may remove them. I used to work for a credit card company, and I presently work for a collections agency, so I can say with complete honesty that both of thee statements are true. Also, I used to have late payments on my credit history and I had them removed by simply asking the companies by phone and in writing and I just recently verified that all late payments have been removed from my credit.

-Update-

Remember that as long as the information is factual, a company does not have to remove any information it reports, but may remove it in the name of good customer relations and in the hopes that you will continue to use their services. When I had information removed from my credit it was for a JC Penney credit card as well as student loans. With JC Penney I sent them a letter indicating that the late payment was in error due to me moving from one address to another, and with my student loan I made the request over the phone. Both companies removed the info without further requests. If you do that and the company doesn;t remove it, you also have the dispute option - contact the credit reporting company and state that the payments were sent on time and that it is a reporting error on the part of the company. If the company doesn't respond the reporting agency MUST remove it. Hope that helps.

2007-01-31 02:20:13 · answer #1 · answered by McB 4 · 1 0

You can write to the Credit Bureau explaining why the payments were late, e.g. personal difficulty, late paycheck etc. They HAVE to put your letter on file too and it show some responsibility on your part for future lenders. If it is because you are over your head in debt, consider a consolidation loan and then cut up the cards. Else you can find agencies in the yellow pages that will help you communicate with your creditors to make a feasible deal. ALWAYS let your card companies know BEFORE the due date if you are going to be late with your payment.

2007-01-31 02:24:41 · answer #2 · answered by kellring 5 · 0 1

the report will keep the fact that the payment was late forever (effecting your overall score). . but the account statis should change from past due to current after 30 days.

2007-01-31 03:04:56 · answer #3 · answered by Rainy 5 · 0 2

GET RID OF THE CREDIT CARDS. GO WITH A BANK THAT HAS A VISA-CHECKING ACCOUNT SO YOU CAN CONTROL THE MONEY SITUATION BETTER. CREDIT CARDS ARE THE WORST THING FOR THE CREDIT REPORT. JUST THINK, IF YOU OWE ROUGHLY $4,000.00 ON A CREDIT CARD, IT COULD TAKE YEARS TO PAY IT OFF. ALSO WHEN YOUR LATE, INTEREST RATE DOES GO UP.

2007-01-31 02:54:23 · answer #4 · answered by mrmrsbusiness1995 1 · 0 2

Late payments will stay on your credit report, but it will take more than just one "current" payment to offset that.

2007-01-31 02:18:27 · answer #5 · answered by Anonymous · 0 1

seven years is the standard

jus explain to a potential creditor BEFORE they run a credit check on your (ie. car loan/home loan/etc)

2007-01-31 02:17:05 · answer #6 · answered by david m 5 · 1 0

the rest of your life. If you make this a routine it will affect your credit score and any time you need a loan you will be paying more in interest. so get your acts togtehere

2007-01-31 02:19:02 · answer #7 · answered by "Vallamkali" 2 · 0 2

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