by Matt Douglas,
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on the net: http://www.youcancreditrepair.com
UNITED STATES, Jan 04 — Late payments are not created equal; a 90 day and 120 day late pay will cause your score to be dramatically lowered. However with a 30 day or 60 day late pay it will cause very minimal damage to your score.You can remove a 30 and 60 day late pay from your report by contacting the lender and asking them to erase it.In sum we suggest contacting the lender to remove this item
L
ate payments are not created equal; a 90 day and 120 day late pay will cause your score to be dramatically lowered. However with a 30 day or 60 day late pay it will cause very minimal damage to your score.
You can remove a 30 and 60 day late pay from your report by contacting the lender and asking them to erase it. Frequently they will do this in order to keep you as a customer and in their good graces.
We suggest making a phone call and writing a follow up letter. In your letter you should supply a brief explanation and be polite and respectful, after all they do not have to remove the mark.
A 90 and 120 day late pay is much more difficult to remove. However if your account is still open then you should contact the lender, and ask for removal of the mark.
Make sure your account is up to date before you ask them to remove the mark. Lenders will often make this decision based upon your payment history.
If you can not get the mark removed we suggest you dispute it directly with the credit bureaus. This is done by creating a dispute letter and mailing it to each bureau or you can hire a service to do this on your behalf.
The negative item will be on your report for a maximum of seven years. Your account will go to a collection agency after 180 days of delinquency.
The reason a creditor is able to remove this mark from your file is because they report to the bureaus monthly. Thus all they have to do is not report this negative mark, the next month.
Your only way of getting help from the creditor is if you account is currently in good standing. Additionally there is information about negative marks and that they will stay on your report for 7 years.
This is not true; any item can be removed at any point in time, the maximum amount of time an item can remain on your report is seven years. There are a few exceptions such as a bankruptcy. The Fair Credit Reporting Act clearly says that the maximum amount of time is seven years. There is no minimum amount of time an item must stay on your report and can thus be removed at any time.
In sum we suggest contacting the lender to remove this item. If that can not be done then you should dispute it directly with the bureaus, through a dispute letter.
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