Posted on: 01st Aug, 2007 02:42 pm
If a person is 60 or 90 days late,and it is reported on his credit report .is there is way to remove it from his credit report.because as far as i know it remains for almost for a years time on his report,even though he keeps making regular monthly paymnts after he was late.
If defaults have occurred then it will show on the report and would remain for 7 years. However borrower can negotiate with his loan company to get it removed from his report. That is quite possible.
Hi Tushar,
When you default on a loan, it is mentioned in your credit report as "delinquent account" or "late payment". The record of the default will remain on your credit report for seven years even if your account is paid in full. To remove it from your report, talk to the lender and try to negotiate with him as said by Miller.
When you default on a loan, it is mentioned in your credit report as "delinquent account" or "late payment". The record of the default will remain on your credit report for seven years even if your account is paid in full. To remove it from your report, talk to the lender and try to negotiate with him as said by Miller.
Hi Tushar,
Welcome to the forum.
It's good if a person being late once is making regular payments. This will be helpful for him in case he wants the lender to get his credit report updated thereby removing the late accounts from the report.
Late payments remain on a credit report for at least 7 years. However, since the person is making payments on a regular basis, therefore he can request the lender to ask the bureaus such that they remove the late payment from the report. This may take some time, but I think it is quite possible.
Hope this helps...
God bless you.
Samantha
Welcome to the forum.
It's good if a person being late once is making regular payments. This will be helpful for him in case he wants the lender to get his credit report updated thereby removing the late accounts from the report.
Late payments remain on a credit report for at least 7 years. However, since the person is making payments on a regular basis, therefore he can request the lender to ask the bureaus such that they remove the late payment from the report. This may take some time, but I think it is quite possible.
Hope this helps...
God bless you.
Samantha
