Sun. Jun 16th, 2024

Credit repair form in a clipboard. Bad credit score.

Know ways how to Remove a late payment


Many people wonder how to delete or Remove a late payment from one credit report. This article deals with or tells how and how one can do that quickly.  The fact that late payments can hurt one’s credit report is known to everyone. Even if there is a single late payment in a credit report, it can drop almost a hundred points. Therefore, it is essential too, first, to take care of it and not make any late payments and second, to know how to get rid of it if one makes a late payment. 

How does a late payment affect you?

When a late payment occurs, it gets reported after thirty days of the amount being late. The more the cost brings delayed, the more negative impact it has on one’s credit report. It is essential to know how late payment can affect one before one learns the ways or methods of removing it. It is a basic rule that if one has the highest credit score, the further it will also fall. Hence, people are often seeking ways or methods to Remove a late payment and prevent their credit card from falling hard. 

Methods of removing late payments 

When one’s credit score falls due to late payment, it can have a significant impact as one cannot avail of any further credit. Hence, one must do everything one is capable of to get rid of these late payments on their credit report. The first step towards doing it is simply writing a goodwill letter. In this letter, one has to state why the delay in payment occurred and ask the creditor to adjust or remove the late charge from the record. 

The second method involves writing a letter asking the creditors to remove the late payment from the record in exchange for a sum of money. It should only be done if the first method fails. This third method also involves writing a letter the creditor. In this letter, one has to agree on autopay, i.e., the creditor has to remove the late payment, and in return, one has to decide to take the next charge through auto-pay mode. However, if one has been sent a false credit report or a false late payment reported, one can dispute it as inaccurate and consult the authorities. This is the fourth method. In the fifth method, one can hire a credit repair official to properly go through the credit report.