I am an expert at removing collection accounts; however, when it comes to late payments I am not so good. Last year I had a stroke and suffered from a brain anuerysm. I purchased credit protection on almost all of my accounts but some of them still reporting me late even though the insurance was making the payments. I have began to file complaints with the FDIC on those accounts and have had some success with getting fees back and even refunds of premiums but not late removlas although I asked for that in my complaint. Some of the protections didn't cover it because of probationary periods but after the complaints NFCU went back in and back and approved the claim and paid all the accounts that were on the program. It's been a mess. But I need some help especially on the ones I did not have protection with like Target, Firestone, Merrick Bank and getting NFCU to now remove those lates. My most challenging one will be the RBFCU accts where protection wasn't offered. I've sent good will letters and all accts are current now but no success. Any other ideas? I just want my credit back. I am back to work and I am reeady to get my life back, my credit is my life. Thanks in advance.
Welcome to the forums.
So sorry for your situation.
The best advice I could give would be to send a letter to each President of the company, CEO or what ever they call them. Thoroughly explain what happened and ask them to remove the late payments.
Do you have proof the protection insurance was making on time payments?
Wow....I didn't think of that. Thank you so very much! No, I do not have proof they were paying on time, but I did find a statute in regard to the process of the claims & payments. Just in case anyone else has this issue I will post it here. Since it was sold to me by them and they get a commission for selling it, this issue falls under the Deceptive Trade Practices. This is what I used to get NFCU to honor the insurance. I mean obviously you purchase it to protect your credit and if it still reports late payments, it doesn't do what it promises to do. What was the point of paying all of those preimums if it doesn't do just that? Here's the statute:
According to civil code Section 1812.400-1812.410 If a creditor participates in the sale of credit disability insurance to the debtor, or that creditor’s successor in interest, a creditor is not to invoke a creditor’s remedy because of a debtor’s nonpayment of any sum which has become due during a period of disability until a reasonable time has passed for the disability insurance claim to be filed, verified and processed.
That's just part of it, but one of the important parts. It also states that refunds of late fees and backdating the payments is required. If payments are backdated that should cover the late payments. I've added this code to my letter to NFCU. If they do not update the report, I will respond to their response stating that is what needs to happen before I consider the complaint resolved. I will add this to the letters to the CEO as well. This has happened to me before and my complaint with the FDIC had a CEO calling me on the phone apologizing and telling me about his mother and her illness. He removed the tradeline and sent me all of my late fees and overpayments back. If anyone knows who the CEO is at Target and their contact info please let me know! Thanks again!
If they are credit cards, you can file a complaint with them under the Fair Credit Billing Act (FCBA) over any issues of account billing and payment, which has strong time periods and discovery rights.