Removal of late(s) for automatic payment

[Anonymous]

My credit was on the way to getting clean, but while my monetary situation has improved, my organizational skills have not. I just got my second late, on my car loan, and while reviewing my options, I have read that some creditors will remove a late from your loan history if you suggest that you are willing to sign up for automatic payments in return.

Has anyone had experience with negotiating this? My lender is W Fargo Dlr services. Do you know who the best person to contact would be? I plan to sign up for automatic payments anyway (I'm kicking myself), but this would be a big bonus, even if it's just the last late they could remove. (1st was three months back.) I've had the loan for a couple of years.

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

My credit was on the way to getting clean, but while my monetary situation has improved, my organizational skills have not. I just got my second late, on my car loan, and while reviewing my options, I have read that some creditors will remove a late from your loan history if you suggest that you are willing to sign up for automatic payments in return.

Has anyone had experience with negotiating this? My lender is W Fargo Dlr services. Do you know who the best person to contact would be? I plan to sign up for automatic payments anyway (I'm kicking myself), but this would be a big bonus, even if it's just the last late they could remove. (1st was three months back.) I've had the loan for a couple of years.

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You can always ask, but Wells is amongst the absolute worst about removing lates.  Seriously.

If you don't ask you have  0% chance.  If you ask you may have a 1% chance.

[AndySoCal]

If I were you I would sign up regardless if they removed the lates. I would call it preventative measure. I have  auto pay with one lender after almost having a 30 day late on one of my credit cards. I now put all bills on top of my keyboard to remind me to pay them.

[Anonymous]

If the late has not been reported to the CRA's yet they may be willing to work with you but if it has most likely not , be nice and be persistant, if they say they cant do it, keep taking it up the ladder till someone says they will or they wont, and not we cant.

[dallas6886]

I am new to the Forum. I have gour medical bills. I was reading a post regarding medocal bills being removec by using: PFD and HIPAA.

What is PFD? and will this be used to remove the mecical bill. And also with HIPAA?

[Anonymous]

My limited experience thus far is only with my local CU, which I've been a member of for years. 

I got behind on a car loan, but only 30 days. Due to my finances at the time, I couldn't get back on time, so I have around 20, 30-day lates on that car payment, a loan which ended with 17 straight on time payments. I've reached out to their credit dispute department and the lady says there's nothing she can do. 

So last night I wrote a letter to send to the CEO ... so we'll see how that goes. 

[Anonymous]

Yeah, they didn't go for it. They were not even close to going for it. We had unanticipated bills, and a bit of a hardship situation, but they were completely uninterested. Dispute is well defined, forgiveness is not allowed except for one or two days due to technical difficulties or something similar, according to them. I could send something to the dispute group, but since I'm not disputing, I know how that would go.

Anyway, it was a good exercise. I was afraid to call, but I'm no worse off now than before. I'll probably set up automatic payments anyway. I guess it's 6-9 months before this late is significantly reduced in score weight, right? Hopefully it does not impact us in the short term. Thanks to all who commented.

[Anonymous]

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@Anonymous wrote:

Yeah, they didn't go for it. They were not even close to going for it. We had unanticipated bills, and a bit of a hardship situation, but they were completely uninterested. Dispute is well defined, forgiveness is not allowed except for one or two days due to technical difficulties or something similar, according to them. I could send something to the dispute group, but since I'm not disputing, I know how that would go.

Anyway, it was a good exercise. I was afraid to call, but I'm no worse off now than before. I'll probably set up automatic payments anyway. I guess it's 6-9 months before this late is significantly reduced in score weight, right? Hopefully it does not impact us in the short term. Thanks to all who commented.

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It will reduce score impact after 12 months them more so after 24 months. A single 30 day late has very little impact after 24 months.