To get late payments removed from your credit report, consider the following approaches:
1. Dispute Inaccurate or Erroneous Late Payments
- You can file a dispute with the credit bureaus (Equifax, Experian, TransUnion) if you find that a late payment was reported incorrectly or is inaccurate. Provide documentation such as bank statements or payment confirmations to support your claim.
- If the credit bureau finds the late payment was reported in error, they must remove it from your credit report
2. Request a Goodwill Adjustment
- If the late payment is accurate but you have a strong history of on-time payments, you can write a goodwill letter to the creditor explaining the reason for the late payment (e.g., medical emergency, temporary hardship).
- Some creditors may remove the late payment as a gesture of goodwill, especially if you have been a reliable customer otherwise
3. Address Fraudulent Accounts
- If the late payment is on an account fraudulently opened in your name, file a police report and an identity theft report with the FTC.
- Contact the creditor’s fraud department with these reports; they may remove the fraudulent account and associated late payments from your credit report
4. Understand the Time Limit
- Legitimate late payments remain on your credit report for up to seven years from the date of first delinquency.
- While you cannot remove accurate late payments before this period ends, their impact on your credit score diminishes over time
Summary
Method| When Applicable| Action Required| Result
---|---|---|---
Dispute inaccurate late payments| Late payment reported in error| File dispute
with credit bureaus; provide proof| Removal of erroneous late payment
Goodwill adjustment| Accurate late payment but good payment history| Write
goodwill letter to creditor| Possible removal as a goodwill gesture
Fraudulent account| Late payment on fraudulently opened account| File police
and FTC reports; notify creditor fraud dept| Removal of fraudulent account and
late payments
Wait for 7 years| Accurate late payment| Wait for the reporting period to
expire| Late payment automatically removed
Accurate late payments cannot be removed simply by paying off the debt or by paying a company to remove them. The best approach is to maintain timely payments going forward and address any inaccuracies promptly
