I received this response from my credit union who I have an auto loan with. I totalled my car back in Dec 2006, and financed a new car through them then. My previous loan had several late payments, but my new car loan has 16 consecutive months of on-time payments. I sent them a GW to see if they could remove the old, closed account's lates, and here was their response. Keep in mind that I have has nothing but stellar service from them EVER.
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I have looked over your request and I have discussed it with the lady that deals with the credit reporting agencies and I regret to inform you that there is noting we can do to change your credit report at this time. It is a federal law that we report to the credit reporting agencies accurately and we can not remove negative credit just like we can not add positive credit. If you have any disputes with your credit report you can, by law, dispute these issues with the credit reporting agencies and they will in turn make an inquiry of us to make sure that the credit listed on your credit report is accurate. If there are any discrepancies they will be cleared up at that time, but it takes 7 years for good or bad credit history to fall off of a credit repot by law. I hope I have answered your questions even if it is not what you wanted to hear but when buying a home they will take the length of time that you have been in good standing and how old the bad part of the credit is. They can tell when you have worked to clean up your credit and they will take that into consideration."
What should I do now?
