How to remove late payments

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	Credit Corner      With Thomas R. McKee
Newsletter Date 11.22.2013
Credit Education for Loan Professionals and Real Estate Agents. In This Issue: Quick Tips to Remove Late Payments.       Send these Newsletters to your Realtor contacts. You’ll be amazed at how much business it can generate! J                   Contact me personally:   Thomas R. McKee New West Credit Consultants 4605 W. 39th St. Sioux Falls, SD 57106 605-323-1316 office 800-900-7481 toll free 877-294-9562 toll free fax www.newwestcc.com tom@newwestcc.com               Have questions about a clients credit? Simply call us or email the credit report for a Free Analysis!	Quick Tips to Remove Late Payments        Late payments as compared to negative items such as collections, charge-offs, excessive inquiries--even some Judgments and Tax Liens are notoriously difficult to remove. But here are three quick ideas: 1.          Phone the creditor and do your best to get a manager on the phone. Tell them that you were going through a tough time financially but are otherwise a good client (make sure that this is the truth as they will verify it!) and request that they remove the negative mark.     It may sound too easy but it might just work and is well worth the time & the phone call. You may also write a letter but we have found phone calls and dealing with a manager gives better results.   2.          Write a letter stating that the information is incorrect and that you would like proof of the late payments! I’m not advocating lying here but the Federal Trade Commission does put the burden of proof on creditors & credit bureaus when negative information is being reported. And yes, it will work on some late payments being removed.   3.          I’m obviously not perfect and own a business where my income fluctuates. Ok, so I have had a few late payments over the years and here is how I handled it.        Again, I phoned the company and got a manager---explained the situation (and there are many!), then I told them that I would sign up for Automatic Withdrawal from my bank if they would remove the late payment…it worked 4 out of 5 times!     These are not the “core strategies” that we use primarily but hey, I can’t give away all of my secrets…I’d be out of business! J           If you are a person who lacks in negotiating skills, doesn’t have time or would rather have someone else do it for you, send us an email with your credit report for a Free Evaluation.     Yours in Credit Education,   Thomas R. McKee

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