Late payments can significantly damage your credit score. However, there are strategies to remove them from your credit report. Here’s how.
1. Request a Goodwill Adjustment
If you have a history of making on-time payments, contact your lender and request a goodwill adjustment to remove the late payment.
2. Dispute Incorrect Late Payments
If the late payment is an error, dispute it with the credit bureaus (Experian, Equifax, and TransUnion). Provide evidence that you made the payment on time.
3. Negotiate a Pay-for-Deletion Agreement
Some creditors may agree to remove a late payment if you pay the past-due balance in full.
4. Enroll in Automatic Payments
Prevent future late payments by setting up automatic payments for your credit accounts.
5. Wait It Out
Late payments typically stay on your credit report for seven years, but their impact decreases over time.
Final Thoughts
Removing late payments can improve your credit score. By using these strategies, you can minimize their impact and maintain a healthy credit profile.