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Does late payment removal work anymore?

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Ok, before I begin I did a search and nothing came up. I’m trying to figure out if these are worth removing. I have two late payments that I’m trying to remove.

 

Fingerhut late payment August 2018

Personal loan Late payment Dec 2019

Both accounts are paid off and open active 

 

Everytime I contact the creditors they say that can not make changes, they don’t budge. They simply say they can’t remove late payments?

 

Do you write goodwill letters?

Do you dispute with CB?

Do you dispute with Creditor?

 

Can anyone provide a sample letter?

Also after 6 months late payments don’t matter?

 

Educate me please 

Edited by Killbadcredit

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5 hours ago, Killbadcredit said:

Also after 6 months late payments don’t matter?

Late payments matter as long as they're on your reports, but matter less over time.  A late payment from 6 months ago is still very fresh.

 

5 hours ago, Killbadcredit said:

I’m trying to figure out if these are worth removing.

Anything negative is worth removing, it's just a question of priority.  As long as you have serious delinquencies reporting, those are higher priority, but that doesn't mean you shouldn't try to get lates removed (especially since by virtue of age they may survive on your reports longer than some older, more serious problems).

 

5 hours ago, Killbadcredit said:

Both accounts are paid off and open active

Goodwill letters work best when the account is still open, so you have that in your favor.

 

5 hours ago, Killbadcredit said:

1 - Do you write goodwill letters?

2 - Do you dispute with CB?

3 - Do you dispute with Creditor?

Yes, yes and and sort of, but in a different order.

 

Start with 3 via a phone call, but don't dispute.  Just call and ask for a removal and see if that gets you anywhere.  Politely escalate up the chain with customer service.  Odds of success aren't great, so if this doesn't work, move on to #1. 

 

You can try #2 above if neither of those work, but make sure you do 1 properly (don't mail a generic letter to "To whom it may concern" or "Dear credit reporting department." 

 

5 hours ago, Killbadcredit said:

Can anyone provide a sample letter?

A goodwill letter should be personal, brief and contrite.  No one else's circumstances will be the same as yours. 

 

For the recipient, remember that you are trying to appeal to someone with the authority to make a policy exception, so do some research and target an appropriate executive.

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Thanks CV,91915

1. why do CSR tell me it’s not possible to remove late payments?

 

2. In case either creditor was to close the accounts, do I still have a chance to get removed payments?

 

 

Thanks again

Edited by Killbadcredit

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1 hour ago, Killbadcredit said:

1. why do CSR tell me it’s not possible to remove late payments?

Because a CSR doesn't fit this description:

9 hours ago, cv91915 said:

you are trying to appeal to someone with the authority to make a policy exception

 

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Effectively, yes.

Creditors are loathe to hand out forgiveness because it quickly becomes known and some will abuse it. They also know that in doing so, it undercuts the credit reporting system.

Once the account is closed, there is no effective negotiating power. 

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CV91915 I know you replied my questions.  I appreciate advice. Since I’m here and started, how would I dispute with the CB?

 

A little more in depth strategy perhaps?

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10 hours ago, Killbadcredit said:

How would I go about disputing late payment with Experian, TU, EQ?

 

Please help I’m trying to fix my wife’s credit and I really don’t know how .

I would recommend trying to escalate this within customer service first (did you ask for a supervisor or manager)?  Be prepared for people so say no, just keep going up.

 

Once you can't go up anymore, then target an executive with a goodwill letter, or three or five.

 

As I mentioned above, I would attempt a credit bureau dispute last.

 

Note that none of these is a terrifically effective at removing legitimate lates.  With the exception of the credit bureau dispute, you are trying to find someone who is willing to make an exception to policy, which can be difficult (especially with companies that mainly attract consumers with awful credit, like Fingerhut).

 

Regardless of your tactics on this or other matters, don't give up with one tactic and move on just because the first person says, "no."

 

 

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16 hours ago, Killbadcredit said:

How would I go about disputing late payment with Experian, TU, EQ?

 

Please help I’m trying to fix my wife’s credit and I really don’t know how .

as @cv91915recommends, deal with the data furnisher and at this point not the CRAs.

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