It's not almost getting loans either as your credit history can affect your ability to acquire employment or lease an apartment. Any steps which can be taken to remove late payments from your credit report will inevitably better your situation financially. Lets have a look at some of the alternatives when trying to improve your credit rating.
The three major credit reporting agencies by law have to respond within 30 days to confirm the information in question, when contacted with a consumer who's correcting inaccurate info on their credit file. They must legitimately eliminate the data from your credit history should they don't respond within the 30 day window. Each reporting agency, Experian, Equifax and TransUnion, supplies mailing address and an advice correction kind for customers to use. Make sure to record all contact and mailing information because it gives a receipt the advice has been received, and send a certified letter.
Check the Payment Time and Amount
Contacting credit reporting agencies regarding advice that is erroneous is not limited to only the incident in question. You are not just challenging specific information like the time plus amount but also the fact that the late payment appears on your own credit report. If any of this info is wrong it can lead to successful challenge in your favor. Double check all your records including account and checkbook statements and then it will be taken off your credit history when the late payment is older than two years. Since a credit score is figured using the last 24 months of payment information, this is important.
Contact the Reporting Business
The reason credit reports include any information at all is because businesses supply data on each consumer with which they have a business relationship. Depending on how good your business relationship is, you might be able enough to send a goodwill letter to the company politely requesting they remove the late payment info from your credit report. This of course is only going to work when you have been for many years with the company and are considered a higher value customer in good standing. Since any more would due this also tends to work just for one or two late payments but would also mean that you might not an excellent customer in their eyes.
Hire a Credit Repair Agency
Credit repair, which includes removing late payments from a credit report, can always be initiated by the consumer with no need to use debt consolidation of credit repair businesses. That does not mean these firms do not offer invaluable services which may be beneficial for some individuals. When contacting the credit reporting agencies or individual companies themselves many people are uncomfortable or unfamiliar. Use the Better Business Bureau and Federal Trade Communication sites when searching for a dependable and reputable credit repair services locally.