I have a number of late payments on my report. One for a macy's credit card and another for my bank of america. How do I ge them off! They were late because I was just out of college and did not have a job. I have since paid them down and have been making regular on-time payments but they are literally killing. I have a total of 15 late payments. 10 for Macy's and the other 5 for bank of america.
I was thinking I would send a dispute letter for the late payments that occur in 2005 and 2006 (July 2005, June 2006, September 2006 & Oct 2006)
Any advice?? I cannot wait 7 years for them to fall off. I now have a great job and want to buy a condo but my credit score is 545 and is kicking my butt! Thanks for your help. If you recommend writing a goodwill letter, please please please provide a sample one and what I should say.
Thanks again!
2007-08-01 03:42:13 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
What about goodwill interventions?
2007-08-01 03:57:59 · update #1
So, what do I need to do? Do I send a lie and tell them I was in a fire, accident, family emergency? Will they want proof? What do I say!?
2007-08-01 05:42:15 · update #2
unless there was a bank error, natural disaster, fraud, something that was out of your control, you cant get them removed. Not having a job, while it sucks, the credit card companies do not consider a reason to have those removed.
2007-08-01 03:48:34 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Sorry, the late payments will stay on your report for 2 years. (not seven). If you look at your credit report, they only post the last 2 years' worth of payment history when it's tallied month by month. The ones that stay around for longer are the totals of how many times you've been 30/60/90 days late...So that's a good thing!
If you want, you can write a consumer statement. It should be 100 words or less describing your situation. The bureaus will post that to your report and whoever pulls it can see your side of the story.
Like a previous poster said, I doubt you will receive much sympathy though. Just charging up debt without having a way to pay for it will be chalked up as irresponsible - not as something that was a terrible tragedy (like a death, a divorce, a firing, an accident, etc.)
2007-08-01 04:32:16 · answer #2 · answered by YSIC 7 · 0⤊ 0⤋
15 Late payments is a major issue. The creditors don't really care why you were late. If you had only 1 the answer might be different, but with a total of 15 no amount of "goodwill" letter writting will get them to remove it. The only possibility you have is if you can prove that you were not actually late all of these times. But if they are valid they can not be removed. Just keep doing what you are doing now in paying them down and ON-TIME. The longer you can do this the better your score will start to look. Late payments have the worst effect the first couple of years, and continue to have less of an effect as time goes on past that.
2016-05-19 23:08:45 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Why did you run up the bills if you couldn't pay them?
Welcome to the adult world. What they told you in high school has come to pass. The late payments are on your "permanent record" and they're there to stay.
The credit reporting agencies put a lot of time and money into their procedures to make certain that the reports they sell are valid, correct and worthwhile. If you could just get a bunch of late payments removed by writing a letter then credit reports wouldn't be worth much.
As you continue to use credit wisely your credit score will go up. It will take time but that's the only way to get it up.
I'd be very careful now with credit. Not only can it keep you from buying a home, many potential employers do credit checks in pre-employment and it's also used to determine insurance rates.
2007-08-01 03:59:23 · answer #4 · answered by Oh Boy! 5 · 1⤊ 2⤋
Disputing legitimate late payment reports is a waste of time. Frankly, you earned that low score by making all those late payments and now you have to live with it for the next 7 (actually it's more like 7-1/2) years.
The good news is that the more time that goes by the less all those negative marks will hurt your score, provided you pay all your current bills on time.
2007-08-01 03:51:52 · answer #5 · answered by bdancer222 7 · 1⤊ 0⤋
Obviously most people are not sympathetic to bad credit, but it happens. There are no gaurantees but you can try. I would call creditors and ask them to remove them. If you have been paying current for awhile and they now value your business they may be willing to to discuss taking them off. You can also discuss doing a direct payment from your account. Use this is leverage they want to be assured they will get payment. It is business they will not just do it to be nice there has to be someting in it for the company to take them off.
2014-04-15 10:12:34 · answer #6 · answered by MS31 1 · 0⤊ 0⤋
Your dispute letter will see the paper shredder pretty quickly, since the information in your credit file is accurate. Disputes are only for INCORRECT information in your file. As long as these late payments reports are accurate, you can only WAIT for them to fall off in due course.
2007-08-01 03:54:54 · answer #7 · answered by acermill 7 · 1⤊ 0⤋
No soap. The lates will stay on your report. No one can delete accurate info.
2007-08-01 04:32:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
u can't get them off.. u paid late and it wont come off for about 7 years or so.. sorry
2007-08-01 04:42:48 · answer #9 · answered by shorty21 5 · 0⤊ 0⤋