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Is my "late payment" worth challenging?
A few months back I was contacted by my University from which I borrowed money. It had come time to pay back my loan, but I never received a bill, at which point 90 days after the initial payment was due I received a phone call threatening to send me to collections. I came to find out that the school had entered all my information incorrectly having made errors on my address and phone number inputting a "8" where there was supposed to be "5" As a result, my credit report is showing 7 "late payments". Upon finding out about the necessary payments I paid the balance and "late fees" in full that day. Would it be worth challenging the late payments on the grounds that my information was incorrectly entered in the school's computer system?
Asked by
upcarter
1 year ago
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u can try sumtimes it can work..
darpan2001 1 year ago
It's worth a shot... but it's VERY difficult to get LATE payments removed from your credit. If you have any paperwork on the loan that shows the wrong address KEEP IT! Start with your creditor, see if they can do anything for you FIRST. If not then call the Credit Agencies and dispute the account... provide them with all paperwork to prove that they had the incorrect address... be persistent... but prepare to get frustrated... As a side note, if you dispute the account and it comes back verified then you'll have to suck it up and wait 7 years for it to go away. You will have a statement on that account which will say "consumer disputes this account" which won't affect anything until you go to buy a house. All the new loan regulations require these statements removed from your report... It's not hard to do, but plan ahead cause it takes time.
calicat386 1 year ago
So would it just be better than to live with the late payments if I am hoping to buy a house with the next year?
upcarter 1 year ago
I think its always worth challening a mistake on your report. Why suffer and pay for this mistake if it isn't yours? I had a "30 day late" mark on a line of credit from my credit union, which was late only a few days. I tried challenging it with my credit union several times with no luck. Over time, this thing became over a year old, so they werent able to see it in their records, but it still showed up on my credit report. I challenged it via my credit bureau and since the credit union cant see their own records, its now gone
janiesuper 1 year ago