Removing Late Payments on Report

Anonymous · ‎04-22-2018

I made a few mistakes last fall with my lease payment and also with our mortgage payment. Short story...We have two leased vehicles, one with GM Finacial and one with Ford Credit. I made the mistake of switching the due dates and causing them to be late for 5 months before I realized what had happened.

We have two leased vehicles, one with GM Finacial and one with Ford Credit. I made the mistake of switching the due dates and causing them to be late for 5 months before I realized what had happened.

Our mortgage was also sold to another lender. The representative at Freedom Mortage recommended that we split the late payment and add the amount on to 3 future payments. This caused all three payments to be late.

We are paying off one leased car and turning it in soon. But one of the vehicles, my husbands truck, we would like to buy when the lease is up in August. We make over well over 100k per year. I am just afraid we will not be able to get a loan for it and will when the time comes.

Any advice would be great. Thanks

Anonymous · ‎04-22-2018

Are your accounts still active? have you been making on time payments?

If answer to both of those questions is, Yes. I would recommend you to write GW (good will) letters to the creditors asking them to remove late payments. Explain them what caused late payments and tell them how you have been more responsible since then. Google for executive contacts, CEO email etc for your respective financial institution and send them an email. If you don't find an email, look for their executive office/headquarters addresses and send them letters. Search this forum for "Saturation method". Also you can find many GW example letters on this forum.

P.S It might take months and months of GW letters to work and still it is not guaranteed

The reason I asked those question is, if the accounts are still active it gets a little easier to get those removed compared to accounts that are closed.

Good luck!

Anonymous · ‎04-22-2018

Yes they are still active and we have made payments on time since January of this year.

Anonymous · ‎04-22-2018

@Anonymous wrote:
Yes they are still active and we have made payments on time since January of this year.

Great!

Read this thread for more info!

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Anonymous · ‎04-22-2018

Wait.. you changed the due dates and they became late? How exactly does that happen for 5 months? If you were less than 30 days late they are not allowed to report it late. Per the FCRA. So if your due on the 15th and changed it on the 5th but sent it on the 15th then you were not late enough for them to say 30 days. Now if that made you MISS a payment which was 30 days late.. then thats ONE payment not 5. I would request under the fair billing act they investigate the reporting.. I would also dispute it on my credit report that you never paid 30 days late if you didn't. You can be 29 days late with a payment and they can not say you were 30 days late nor are they allowed to report it as such. Anything less than 30 days has to be reported as current. FYI i had GM financial (used to be americredit but got bought by them) and had to fight them on how they report, Which sounds similar to what they are doing to you. Lucky its going to be gone this year and im not going to have to deal with it on my report anymore.

Anonymous · ‎04-22-2018

I set up auto payments for Ford for Sept 28th when it was actually due August 19th. Then set up payments for GM for October 26th when it was due Sept 19th. So I set the reoccurring payments for the wrong dates.
I had a lot going on in the fall and into the holidays that I didn’t realize it had happened before it was to late.

Anonymous · ‎04-22-2018

GW requests via the Saturation Technique are what I would recommend:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...