cancel
Showing results for 
Search instead for 
Did you mean: 

New to Forum Need Advise - Can previous late payment history be removed or hidden?

tag
Anonymous
Not applicable

New to Forum Need Advise - Can previous late payment history be removed or hidden?

I am new to the forum. I have been reading a lot of the post and they are a great help - however some a little to late for me. After pulling my a powerscore on 4/26/10 I see it says that all the categories are good except the payment history. I want to work on this because I think this will be the key to boosting my score but I just don't know what the best approach would be. I am pretty cautious about applying for new accounts because I always get turned down so I really don't want to take that approach. I was wondering if there is some way to improve the history from accounts already on my CR. Below is a snapshot of what I have:

 

Tire Kingdom Credit Card/ Citi

Opened - 09/07

Last Activity - 06/08

30 Days late 3 times: 11/07, 01/08, 06/08

Account closed by grantor/ closed paid account

 

HSBC

Opened - 04/06

Last Activity - 03/10

30 Days late 1 time: 02/10

Pays as agreed/ Account currently open

 

Verizon

Opened - 04/06

Last Activity - 05/06

120 Days past due

Paid Collection/ Utility

 

USAA Savings Bank

Opened - 04/03

Last Activity - 09/05

120 Days past due

Account closed by grantor/ zero balance credit card

 

Washington Mutual/ Chase Credit Card

Opened - 06/07

Last Activity - 04/10

90 Days past due 4 times/ 60 Days past due 1 time/ 30 Days past due 2 times

Account closed by grantor

Message 1 of 6
5 REPLIES 5
mauve
Valued Contributor

Re: New to Forum Need Advise - Can previous late payment history be removed or hidden?

Goodwill letters / calls are your best path.  Also, what's your utilization like?

 

30 day lates hurt less after 2 years.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 2 of 6
Anonymous
Not applicable

Re: New to Forum Need Advise - Can previous late payment history be removed or hidden?

Currently I only have two lines open - HSBC credit card & Wells Fargo car loan. The HSBC balance is at about 30% of the available balance. I hope this answers your question regarding utilization - not sure. As far as GW letter where can I find an example and what purpose would they serve since the accounts have already been paid and closed?

Message 3 of 6
mauve
Valued Contributor

Re: New to Forum Need Advise - Can previous late payment history be removed or hidden?

The purpose is to throw yourself on their mercy and ask them to remove the late payment reporting.  Examples are aplenty, but the basic idea is: I was wrong, I'm sorry, here's my extenuating circumstance, this is why that no longer applies, here's why it's not indicative of my actual repayment ability / responsibility, etc.

 

You'll get a boost out of paying that card down to 9% or less.  With that many lates, and some being that recent, I don't feel like GW is going to work very well for you.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Message 4 of 6
MarineVietVet
Moderator Emeritus

Re: New to Forum Need Advise - Can previous late payment history be removed or hidden?

 


@Anonymous wrote:

I am new to the forum. I have been reading a lot of the post and they are a great help - however some a little to late for me. After pulling my a powerscore on 4/26/10 I see it says that all the categories are good except the payment history. I want to work on this because I think this will be the key to boosting my score but I just don't know what the best approach would be. I am pretty cautious about applying for new accounts because I always get turned down so I really don't want to take that approach. I agree that you shouldn't even consider new credit until you get some things repaired.

 

I was wondering if there is some way to improve the history from accounts already on my CR. Below is a snapshot of what I have:

 

Tire Kingdom Credit Card/ Citi

Opened - 09/07

Last Activity - 06/08

30 Days late 3 times: 11/07, 01/08, 06/08 These are beginning to lose some impact but you should try to GW them.

Account closed by grantor/ closed paid account

 

HSBC

Opened - 04/06

Last Activity - 03/10

30 Days late 1 time: 02/10 This is very recent and is hurting you. A GW try is on order here also.

Pays as agreed/ Account currently open

 

Verizon

Opened - 04/06

Last Activity - 05/06

120 Days past due

Paid Collection/ Utility  A collection will remain on your reports for up to 7.5 years from the DOFD (Date of First Delinquency). This is a big negative. All you can do is GW.  A paid collection hurts just as much as unpaid.

 

USAA Savings Bank

Opened - 04/03

Last Activity - 09/05

120 Days past due  Did this ever go to collections? Another major negative. GW this.

Account closed by grantor/ zero balance credit card

 

Washington Mutual/ Chase Credit Card

Opened - 06/07

Last Activity - 04/10

90 Days past due 4 times/ 60 Days past due 1 time/ 30 Days past due 2 times  Same as all the rest. All you can do is GW.

Account closed by grantor

 


Unfortunately you are not in a position of strength here. These creditors are under no obligation to help you or even respond to your GW requests.There are examples of GW letters you can do a search for. I wish you well getting these removed. Some people have success with GW's; others not so much. All you can do is keep trying.

 

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

Message 5 of 6
Anonymous
Not applicable

Re: New to Forum Need Advise - Can previous late payment history be removed or hidden?

Well, I wrote GW letters and snail mailed to every address I could find for each account. Please say a prayer of success for me. If anyone happens to have email addresses or fax numbers to where I can send GW letters that they would share I would be sooo appreciative.

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.