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Late payment removal!!!

Regular Contributor

Late payment removal!!!

Hi Everyone. Let me start with a big Thanks to this community. I have a quick for late payments. I made a mistake of not making payments 2 months prior to filing chap 7 listening to my attorney. Now, they are showing in my credit report. Has anyone any success with removing late payments after filing chapter 7? Thanks in advance. 

Message 1 of 4
Regular Contributor

Re: Late payment removal!!!

I also had late payments before my BK and as result they are listed on the various accounts that were IIB.  I looked into it as well but as far as I can tell it wasn't possible to get the payment record removed. It's just part of the BK record which stays around for 7 years.


Maybe someone else will say for sure it's not possible.

Message 2 of 4
Valued Contributor

Re: Late payment removal!!!

I don't think you can get them removed because they are legitimate entries.  Chapter 7 BK will remain on credit reports for 10 years which will the biggest negative factor affecting credit scores.  I believe the late payments will drop off after 7 years.  With BK on your reports, I don't believe the late payments matter much at this point.


I don't think it was a mistake.  I see people missing payments to save up for attorney fees, etc.  

Message 3 of 4
Not applicable

Re: Late payment removal!!!

On my credit reports, all of my credit cards say "Chapter 7 Bankruptcy - $0 balance".


The payment history from late last year to the charge off is not available, but it should be very obvious what happened I guess.


In practice, because of the 90 day presumed fraud law, you're going to have at minimum 2 missed payments reported (because they have to wait 30 days late to report each one under federal law), but most bankruptcy lawyers would say you want to let them close the account and charge off before filing bankruptcy. I suppose I might not have any that say Charge Off because I happened to file before it was reported. 


Most officially charged off in March and April and none of it was reporting as that when my bankruptcy went on file in May.

Message 4 of 4
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