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I've decided to start trying to repair my credit. I have a few late payments. Here is what I have:
30 days past due as of Dec 2013, Sep 2013
30 days past due as of Nov 2013
90 days past due as of Jan 2014
60 days past due as of Dec 2013
30 days past due as of Nov 2013, May 2011
30 days past due as of Jul 2011
These are from 4 different credit cards. I was stupid in college and would forget to pay my credit card or just would pay late. Is there anything I can do with these? I am thinking about doing a credit repair company, but if I can get the information on how to repair it myself, I would happily do it myself
I know you can send good will letters, but I just don't know what address to send them to? How do I find this information?
And can I dispute just late payments? I am very much wanting to fix my credit because I would love to buy a house at some point, or get a car loan, and the score I have right now just won't allow me to do that. Any help will be greatly appreciated! Thank you!!!
-Jason
That's alot of late payments.
Generally speaking, 30 day lates lose their effect on scores after 2 years...unless they are accompanied by a history of paying late. You seem to have qualified for this distinction.
I'd focus on GW for the 60 and 90. That 90 from 2014 is killing you. So is the 60 but mostly because you are a "late payer" and it's still not 2 years old.
If you can GW the 90, you will see a significant increase in scores once the 60 passes the 2 year mark.
That 90 day late will stick with you for 7 years otherwise.
The GW letters will usually go to the Executive Office of your card. State your case and tell them you're a loyal customer and you've made every payment on time since then.
Good luck
You can do everything, possibly even more, than a credit repair agency. Most people who have used them thought they could do a better job on their own. They are paid per month; why would they work quickly?! You are really not looking at that much time per month once you do research on here. Who issued the cards?
There are a few examples of goodwill success on here from online chats too. Basically, English is often a second language for the chat peeps and sometimes they will respond that they can do goodwill deletions (when they are most likely thinking of deleting late fee payments). People on here then printed the logs and sent to the creditors and lates were removed. I think someone said Capital One said it was not a "goodwill deletion" but rather "a sound business decision." I hit the BoA chats about 20 times and finally got someone to say they can do a goodwill deletion and mailed the transcript to BoA.
That is such a great idea! I have time on my hands so I will try that out! I know the other cards I should be able to get those off pretty easily with GW letters, but the one card, which is a US Bank one, with the 90 late fee one is going to be hard because the account was closed. So I am not sure if they will be happy to do that. Is there a way to say that you will pay off the rest of the balance if they delete it from being reported? It's a $5000 limit and I still have about $2000 left on the card so I was keeping it somewhat high so I could have the oppurtunity. Any help would be greatly appreciated and I will start doing the online chats and see if I can get anything. Thank you!!!
@Anonymous wrote:That is such a great idea! I have time on my hands so I will try that out! I know the other cards I should be able to get those off pretty easily with GW letters, but the one card, which is a US Bank one, with the 90 late fee one is going to be hard because the account was closed. So I am not sure if they will be happy to do that. Is there a way to say that you will pay off the rest of the balance if they delete it from being reported? It's a $5000 limit and I still have about $2000 left on the card so I was keeping it somewhat high so I could have the oppurtunity. Any help would be greatly appreciated and I will start doing the online chats and see if I can get anything. Thank you!!!
I would not approach goodwill letters as being able to get lates removed "pretty easily." The majority of the peeps on here have sent multtiple rounds of letters as goodwill on the first request is the exception, not the norm. When I first found this forum I read success stories and then fired off some emails and letters and got all no's and was a bit down. Have realistic expectations and be persistent and do not give up. Nineteen no's and then one yes is a victory for us.
Yes, you can request a pay for delete PFD. Lots of threads on here about them. Whatever you do DO NOT send payment without a written agreement. People have made phone agreements and got screwed.
GW letters go a long way. I've been extremely lucky in having most of my late payments and such removed with first attempt GW letters and a couple of PTDs. What I'd recommend is really look at your credit report and make sure things are accurate. I've had so many things on there that were either very old or inaccurate that's been removed. Start taking care of those things and pay your bills on time. There are so many resources available for those willing and trying.
GW letters is your best approach for resolution, especially on the 90 day date. Persistence is key to GW efforts. It can take several tries to have success, but keep trying. You can start with the addresses on your credit reports. Writing to the CCC's EO can often be successful, too.