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How To Deal With Late Payments Pt 1

Your payment history plays a pivotal role in shaping your credit score, constituting the primary factor. FICO assigns a weight of 35 percent to your payment history in your overall score calculation.


Late payments featured on your credit report typically exert the most significant adverse influence on your score, making their removal, if feasible, a crucial step towards enhancing your overall creditworthiness. These letters offer you a strategic framework for effectively engaging with credit reporting agencies and creditors.




1. Late Payment Letter to Credit Bureaus, round 1

Send this letter to credit bureaus if any account is reporting a late payment. This letter requests that the credit bureau verify the late payment with the creditor.


Date

Your Name

Your Address

City, State, ZIP Code

SSN: xxx-xx-xxxx | Date of Birth: xx/xx/xxxx


Credit Bureau

Bureau Address

City, State, ZIP Code


To Whom It May Concern:


Upon a thorough examination of my credit report, I have identified certain inaccuracies as follows:

  1. FIRST PREMIER, Account Number: 123456789102****

    • My records indicate that this account has been reported as 30 days late, which is not accurate, as I have consistently made timely payments on this account.


  1. CELTIC/CONT, Account Number: 534631234383****

    • This account is listed as being 60 days late, which does not align with my payment history, as I have always made payments on time.


I kindly request that you VERIFY the accuracy of this information and furnish me with any supporting documentation related to your investigation. In the absence of such verification, I formally request the immediate removal of this information from the credit file associated with my Social Security Number.


Furthermore, I request the removal of all non-account holding inquiries older than 30 days and the addition of a promotional suppression to my credit file.


Yours sincerely,


Your Name


2. Late Payment Letter to Credit Bureaus, round 2

If the credit bureau states that the late payment was “verified”, send this letter 35-40 days after the original letter was sent. You can also send it earlier if you receive a response prior to the 35-40 day period. This letter demands that the credit bureau provide the method of their verification within 15 days.


Date


Your Name

Your Address

City, State, ZIP Code

SSN: xxx-xx-xxxx | Date of Birth: xx/xx/xxxx


Credit Bureau

Bureau Address

City, State, ZIP Code


To Whom It May Concern:


I am writing in response to your recent assertion that the following account(s) have been "verified," along with the claim that the information associated with my name is accurate.

  1. FIRST PREMIER, Account Number: 123456789102****

    • I had previously raised a dispute concerning this account. I do not concur with the findings of your investigation. I kindly request that you provide me with documentation of your investigation or proceed to remove the adverse information.


  1. CELTIC/CONT, Account Number: 534631234383****

    • A previous dispute was lodged for this account. I do not agree with the outcome of your investigation. I respectfully request the provision of evidence from your investigation or the removal of the adverse information.


It is important to note that a detailed explanation of the methodology employed to ascertain the accuracy and completeness of this information must be furnished within fifteen (15) days following the conclusion of your investigation.


Yours sincerely,


Your Name


3. Late Payment Letter to Creditor

This letter requests that creditors provide documentation of any and all late payments made on the account since the account was opened. It demands that late payment information be removed if no such documentation exists.


Date


Your Name

Your Address

City, State, ZIP Code


Account Number: xxxxxxxxx


Creditor

Creditor Address

City, State, ZIP Code


To Whom It May Concern:


I have recently conducted a thorough review of my credit reports and have observed that you have reported a late payment on my account. I have no recollection of ever missing a payment on this account.


I kindly request that you furnish me with statements and records encompassing all payments made and any instances of missed payments since the inception of this account.


In the absence of concrete evidence regarding any late payments, I respectfully request that you notify the credit reporting agencies that the account and all associated payments have been "paid as agreed."


Sincerely,


Your Name




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