To remove late payments from your credit report, here are the key points and steps:
Can Late Payments Be Removed?
- Accurate late payments cannot be removed from your credit report before they naturally fall off, which is typically after seven years. Even if you bring the account current, the late payment record remains for that duration
- Inaccurate or falsely reported late payments can and should be disputed and removed. This includes payments reported late in error or on accounts fraudulently opened in your name
How to Remove Late Payments
- Review Your Credit Reports
Obtain your credit reports from the three major credit bureaus (Experian, TransUnion, Equifax) to identify which accounts have late payments and verify their accuracy
- Check for Errors
Verify the reported late payments against your own records. Late payments are only reported after 30 days past due, so anything less may be incorrect
- Dispute Inaccurate Late Payments
- File a dispute with the credit bureau reporting the error. Each bureau has an online dispute process.
- Provide documentation proving the payment was made on time or that the late payment was reported in error
* You can also send a dispute letter directly to the creditor requesting correction
- Goodwill Adjustment Requests
While accurate late payments generally cannot be removed, you can try writing a goodwill letter to the creditor asking for removal as a gesture of goodwill, especially if you have a good payment history otherwise. This is not guaranteed but sometimes successful
- Monitor Your Credit
After disputing, monitor your credit reports to ensure the late payment is removed if the dispute is successful
Additional Notes
- Paying a company to remove accurate late payments is not recommended and often a scam
- Late payments impact credit scores the most when recent and can reduce your score significantly but their impact lessens over time
- If disputes fail, you can add a statement of dispute to your credit report explaining your position
In summary, you cannot remove legitimate late payments early, but you can remove incorrect ones by disputing them with the credit bureaus and creditors. Writing goodwill letters may sometimes help for accurate late payments. Regularly checking your credit reports is essential to catch and correct errors promptly
