What are my chances on getting late payment removed?

Question

I finally payied off my car loan about 3 months ago the last 3 years were bad for me so i maid alot of the payments late and i was wondering if there is a way(nice of course)of talking to the creditor to see if they remove that from my credit
do you think is possible ?and how?

Answer 1

Have you checked your credit report to see if they are even on there? Unless you were more than 30 days late, it won't even get reported to the reporting companies.

If they are on there you can always ask, and if it was only 1 or 2 they might do that for you, but more than that they probably will not do anything to remove the late payments. You could try and call them, but ask to speak to a manager. Explain why you were late and ask if they could have those removed. If they won't, then send a letter to the company doing basically the same thing.

Now for good news, as time goes on the late payments have less and less effect on your overall score. After a couple of years on a paid off loan it will be down to a minimal effect as long as you have maintained excellent history since then. The most important thing is to be sure that you pay everything on-time from now on.

Answer 2

If you still owed them some money you would have a chance at getting them to make that part of the payoff agreement.

But since you have paid the vehicle off they have no incentive to change what they have already reported.

You can always ask? You never know.

Answer 3

MAKE SURE TO READ WHAT I WROTE UNDER "SOURSES" IT WILL HELP YOU & OTHERS WHO STRUGGLE TO MAKE ENDS MEET EVERY MONTH! I HAVE USED THIS FOR YEARS & AS LONG AS YOU MAKE SURE TO PUT MOST OR ALL OF YOUR PAYCHECK IN YOUR CKG. ACCT. EVERY WEEK EITHER BY AUTO-DEPOSIT or by CASHING IT & DEPOSITING IT YOU WILL NEVER HAVE BAD CREDIT AGAIN!!!
As for your question: Have you ever heard of a "SNOWBALL'S CHANCE IN H..." ? Like the other guy said, you've paid them off, they're done with you, they don't care about you or your credit rating, except for the fact that THEY DO NOT WANT TO FORGET YOU ARE A SLOW PAYER & A POOR RISK (that's not me saying that, it's what the CREDITOR thinks!) -- because truth be told they probably don't ever want to finance YOU again & keeping your CREDIT RECORDS as they are is their best way of making sure they don't finance you again !!! So, your chances of getting those SLOW &/or LATE PAYS removed from your C.R. are probably less than 100%: NO WAY. But as said b4, you can always try. It would've been smart to get a written agreement to adjust your rating b4 you paid them off, say if you'd've had the full payoff ready to pay them a couple months in advance in exchange for giving you a better rating you might have had a chance to get your C.R. adjusted, but you'd've wanted to get it IN WRITING EVEN IF THEY AGREED -- NEVER take a VERBAL agreement by the way! I took the "WORD" of a creditor once and do you know what happened after I kept my part of the bargain: NOTHING !!! They said they had never made any agreement with me about anything !!!
So, my hubby's credit rating was perfect -- except for that creditor!!! It hurt his interest rates on all loans for 7 YEARS , BECAUSE THEY LIED TO ME!!!!!!
The credit problem was not even my husband's fault! He had bought a $23K brand new boat & the motor was a LEMON. We tried to get the company (which starts with a "W" and makes high-powered boats, some of which have been in TV series) to repair or replace the motor under the warrantee -- they ignored us !!! Then we tried to get the CREDITOR (the one who also LIED to me) to put pressure on the MANUFACTUROR to fix or repair the motor -- they ignored us too !!! We repaired the motor twice at our own expense which was a substancial amount of money both times, the 3rd time the motor screwed up we refused to repair it ourselves or to make any further payments if the CREDITOR didn't help us get the MANUFACTUROR to repair it, they still ignored us. I told them they could come & get it in that case !!!
My husband's credit was otherwise rated "A" except for that boat, so it ruined his credit by way of making any loans he needed cost very high interest rates.
So, for the next 7 years I used my Credit to buy whatever we had to finance as my credit was "A". A good reason to not finance things jointly (except maybe a mortgage).

Answer 4

You can always explain and ask, but you can't change history.
Good luck.