How to Remove Late Payments on Your Credit Report

With these tough economic times so many people fall into the category of having late payments on their credit report. Late payments on your credit report can be very damaging to your credit score. It is important to understand how lenders view people with them on their credit reports. The lenders see the them as a major problem and as that person can not pay their bills on time or that person will eventually not pay them at all. When trying to buy a home, most lenders will not lend money for a home if you have more than one late payment, especially a mortgage late payment, on your credit report. Many times credit card companies, banks and auto loan lenders will only approve your loan with a very high interest rate. Over a lifetime you could pay $200,000 or more in interest verses to someone who has none on their credit report and has an excellent credit score.

Are you wondering “Can you get these late payments on your credit report off?” The great news is yes, you can get them off your credit report. Of course you could let them ride for years until they fall off your credit. Unfortunately, the credit bureaus don’t always do their job and remove items like they should. It is important to take action immediately and get them removed. Trying to get the late payments on your credit report removed by calling the credit bureaus can be a significant waste of time. The credit bureaus will just give you the run around and then tell you that you can dispute the items. In addition to that phone calls don’t always get tracked where as mailing in the dispute does.

In order to remove late payments on your credit report your have a couple of options. Number one, you could do it yourself or number two, you could let a creditable credit restoration company with an A+ rating with the Better Business Bureau assist you in the process. With so many companies how do you know which credit restoration company is best for you. First, you want a company that is out there working hard for your dollar and delivering on the services they promise. Some companies offer “low-cost monthly options” but it usually ends up costing you more money in the long-run because the company disputes only one item at a time.

You also want a company who keeps your best interest in mind not simply their own pocket book. Educate yourself and be sure they know the process. Find a company that uses every possible strategy to get the late payments on your credit report removed. Third, you want the credit restoration company to have a proven track record and client success stories to back it up. Always remember that you want to review the companies’ Better Business Bureau rating. The great news is you can take action to get them removed from your credit. Don’t let your bad credit stress you out because there is something you can do about it.