How long does a late payment stay on my credit report? That is a common question that many people ask when they are trying to perform credit repair and find many late payments on their credit report that are pulling their credit scores down.

How Long Late Payments Will Stay On Your Credit History

Generally most late payments are going to stick to your credit report for the maximum allowed time, 7 years. Truth be told many late payments  illegally stay on peoples credit report for much longer. This is because banks and credit bureaus almost seem to work hand in hand at times. The bureaus neglect to remove old information and your scores stay low, the banks then use your low score to charge you higher interest rates.

What Can You Do To Beat Them At Their Own Game?

The great thing about the credit bureaus is that they are bound by federal law to react to consumers complaints. That means that if you dispute a late payment on your credit report that is over 7 years old they must remove it, doing htis will cause your credit scores to increase

What If My Late Payment is Not Over 7 Years Old

Well you can still dispute the late payment with the credit bureaus and they will look into the matter. You need to write a properly formatted credit dispute letter stating the reason you believe the information to be wrong.  Never just say it was not late! Specifics will be the key to success with this self credit repair tactic! List specific reasons for your objection.

Examples Of  Reasons Why You Are Disputing The Late Payment

  • The Account Was Under 30 Days Late
  • The Lender Had Worked Out Payment Arrangements With Me
  • The Account Was Not Late In The Listed Month

Check this: Credit Cards for People with Bad Credit

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