|Late Payments Can Knock|
Your Credit Score Down 10 - 20 Pts
at a Time. So It is Important to
Make Sure that You Stay On Top
Of Your Expenses.
It only takes one late payment to affect your credit score. Of course, if you have more than one, the effect on your credit score will be more severe. The bad news is many consumers have had to pay late on their bills because of hard economic times.
This is often through no fault of their own. The loss of a job, high medical bills, and many other financial issues can easily lead to late payments. The good news is consumers may be able to get these late payment entries removed from their credit reports.
Here is how to do it.
The first step is to write a dispute letter. You may need to write one to each of the three credit bureaus: Equifax, Experian, and TransUnion.
Only write a letter to those that are reporting the information. If one or two are not reporting the late payment, don't write to them.
Your letter should include your name, address, and information on the account you are disputing. Include the specific late payments that you are disputing on your credit report. Make sure to tell them why you are disputing those late payments.
If this doesn't work, you can try writing a debt validation letter. With this type of letter, you can bypass the credit bureaus and try to dispute your case directly with the creditor or collection agency reporting the negative information.
Another tactic is to use what is known as goodwill negotiation. This often requires talking to the creditor directly, which many consumers are not comfortable doing. But, it is a tactic that often works as creditors would rather get something than nothing.
Consumers should know that late payment effects vary depending on how late the payment is made. A 30 day late entry is less severe than a 90 day entry. Even so, all can have an effect on your credit score.
Under the current law, late payments can stay on your credit report for up to seven years. This does not mean that they "have" to stay for that entire period. Creditors can remove negative marks whenever they wish.
The trick, of course, is knowing how to get them to do that. This is where working with a reliable credit repair attorney comes in very handy. If you have late payments that you want removed from your credit report, consider this:
The Credit Repair Professionals have been in business for over 20 years. They have helped thousands of people to get millions of late payment and other negative entries removed from their reports. They may be able to do the same for you.
Their fees are very affordable with an upfront fee of only $100 and a variable monthly retainer after that. With their service, you may be able to get many of the negative entries that are on your credit report removed. This almost always leads to a higher credit score.
If your credit score is suffering because of late payment entries, or any other type of negative entry, you owe it to yourself to get these comments removed as quickly as possible. The Credit Repair Professionals can make this work go smoothly and much more quickly than you can do on your own.