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Late Payment Question


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I have been reading this site and first time to post. I have problem with a late payment. I had realitively good credit. No collections or late payments, but my wife and I decided to move and the market was bad and we could not sell our house. So, we had a real estate manager take over the payments on our house and move a family into the house on a lease to own basis. Long story short, he was not making the mortgage payments on time and once it went thirty days late, which in turn was reported to the credit.

This has immensly affected me and my family as we were going to closing on our new house and were denied because of this late payment that showed up. Before we had made this deal, I had always paid before time and had worked for many months to fix our credit before we bought this new house, to turn around and have it ruined in one fail swoop.

I know this is partly my fault for not being more on top of this, but that is why we did it in the first place to not have to worry about it. Anyways, I was wondering if there is some way to get this 30 day past due on my mortgage removed? Any help or advice would be greatly appeciated.

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1. Dispute with CRA's

2. If it comes back verified....


3. Did the mortgage company notify you in writing that they were going to report you late? If not, here is a good letter to use as a crowbar:

<Your Name>

<Your Address>

<Your Mortgage Company>

Date: Jan 3, 2005


To Whom It May Concern:

I recently pulled my credit report from Experian and TransUnion and to my amazement, saw that you recently have decided to report me 30 days late on this account in Nov 2003. I have previous credit reports from both agencies pulled in Oct of 2004, and neither one of these reports show me late in Nov 2003. Not only was I never late on this account, but according to the FCRA, as amended by the FACTA act, you are required to notify me of the insertion of negative listings. I never received such a notice.

§ FCRA 623 (a) (7) Negative Information

(A) Notice to Consumer Required

(i) In general. If any financial institution that extends credit and regularly and in the ordinary course of business furnishes information to a consumer reporting agency described in section 603(p) furnishes negative information to such an agency regarding credit extended to a customer, the financial institution shall provide a notice of such furnishing of negative information, in writing, to the customer.

(ii) Notice effective for subsequent submissions. After providing such notice, the financial institution may submit additional negative information to a consumer reporting agency described in section 603(p) with respect to the same transaction, extension of credit, account, or customer without providing additional notice to the customer.

(B) Time of Notice

(i) In general. The notice required under subparagraph (A) shall be provided to the customer prior to, or no later than 30 days after, furnishing the negative information to a consumer reporting agency described in section 603(p).

(ii) Coordination with new account disclosures. If the notice is provided to the customer prior to furnishing the negative information to a consumer reporting agency, the notice may not be included in the initial disclosures provided under section 127(a) of the Truth in Lending Act.

I have had the interest rate on my other credit cards raised due to your error which has caused me additional interest costs, plus I have spent lost work hours trying to straighten this out with the credit bureaus. The FCRA allows for damages of $1000 per violation, and I consider this three violations, two for never notifying me and one for reporting inaccurately.

Please correct this listing to “paid as agreed – never late”, and remove the 30-day late for Nov 2003, or I will be forced to seek legal action.


<Your Name>

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Yes, I was notified, but correspondance was going to the manager and since we were in the process of moving and being displaced, things we delayed or lost in the process. I know that I did recieve notification, but it was late. This 30 days late notice is legit, but it is not my fault. That is were I am falling into trouble.

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