Credit repair clinics may claim that 30-day late payments can easily be removed from your credit report, but the Federal Trade Commission says that's not true. The agency says there simply isn't any way for you to legally or ethically remove accurate, negative information from your credit report. That includes 30-day late payments. Missing even one payment can be a big deal. The Bankrate website says a credit score of 780 could drop by 110 points because of a 30-day late mark. Such a drop could mean the difference in the best rates on a loan and much less attractive offers.
Instructions
- 1
Contact your credit card company if your payment was posted after your due date, resulting in a 30-day late mark on your credit report. Explain why your payment was late and ask that the notation on your credit report be removed as a courtesy. To receive the goodwill gesture, you should be able to legitimately argue that your payment was posted late because of a reason you could not control, such as delayed mail delivery because of weather or mishandling by the card company.
2Write a letter to the card company asking for a reconsideration if your request is turned down over the telephone. Or, write a thank-you note if your request was granted.
3Get a copy of your credit report from the Annual Credit Report website to confirm that late payment was removed. Wait about 30 days after the goodwill request. If the request was denied, you'll have no choice but to wait seven years for the late payment to fall off your credit report. The Fair Credit Reporting Act allows accurate, negative information to remain on your credit report for a minimum of seven years.
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