Have you removed late car payment history?(When your car is now paid off.)

[Jason]

My car has been paid off for almost a year. The problem is I have massive late payment history showing up on EX and TU.

I read posts here at CIC. Most people pleaded with whom they got their car loan with to remove the late payment history;but they all still had a current car loan with them. I don't.

So I disputed with EX and TU but they didn't delete lates or the whole trade line. I was hoping the whole stinkin trade line whould be removed because of so many lates.

Any input from you?

[merkurfan]

I have found if you dispute a paid/closed account long enough, they get tired of wasting the time to verify...

YMMV

[Jason]

But the account does show paid/closed on the credit reports. Are you recommending to do this any way?

[merkurfan]

if you want to get rid of the lates, your likely going to loose the whole TL. You can try a goodwill letter if you want.

I had a CC that I activated but never used, a week after I got it I canceled it. They reported it paid on time one month then closed... It bugged me, it was a low CL and to many low CL's lead to more low ones.. So I disputed it with EQ a couple of times. Once they deleted (they had no vested interest in maintaining a closed account) I disputed it with the other two..

It's gone from all 3 now.

I would start with EQ, they are the least likely to not let you dispute again and again. Dispute the lates, or what ever else you can find on it. But dispute only 1 thing at a time. This saves the other reasons for later. I used NOT MINE first, and worked my way down the list.

[greatwhitediver]

I did this with a car loan through Wells Fargo. I had about 8 lates over a 4 year loan. I waited about a year after the loan was closed and then disputed them. they were off in 30 days and I was left with a great TL on my report.

You might want to try a GW letter if that does'nt work. Try convncing them that if they were to forgive the late payments you would be highly interested in using them again since they now know that you will at least pay them off.

[Jason]

Thank you very much to the both of you.

[kb9tbq]

I would recommend trying good will letter first to save the account. Point out to them that you did finish paying the account off and in consideration if they could please reconsider reporting the lates. If they can please update the reporting agency to paid as agreed.

Hate to see you loose a tradeline like that the lates would expire after 7 years and you would still have a good 3 years left for positive reporting on the account.

[Jason]

I would recommend trying good will letter first to save the account. Point out to them that you did finish paying the account off and in consideration if they could please reconsider reporting the lates. If they can please update the reporting agency to paid as agreed.

Hate to see you loose a tradeline like that the lates would expire after 7 years and you would still have a good 3 years left for positive reporting on the account.

Wow I did not know that. So the lates turn to good after 7 years? Is that what expire means in this case?

And the car stays on your report for 10 years?

[kb9tbq]

It is a positive account fore be it there being a few lates, it can convert back to positive after 7 years. At that time it would have another 3 years left before the rest of the account expired.

[Jason]

But I have probably around 15. Still you think it it a positive account?

[kb9tbq]

That is a lot of lates, I would try good will letter.

Let them know why you fell behind, that you are sorry for the lates and point out that you did pay the account off. Also tell them that you will be going for a major loan and that this account is negatively affecting your approval and if they could please reconsider reporting the lates.

You can send a good will more then once, keep bugging them and they may give in.

That is a lot of lates and it might be better off if it just dropped off of the credit report if you can't get results with the good will letter.

[Jason]

Thank you. You are a great help indeed.

[kb9tbq]

It is positive because it didn't charge off, just had lates listed, there is every possibility that the lates can expire off of the tradeline and make it a good account again. But 15 is a lot I would think that it would of charged off.

[Jason]

Yeah I know but it didn't charge off. It does show as derogatory account on True Credit monitoring. But then the weird thing is it shows on "Experian" as helping my score because the account age is longer than many other accounts.

[kb9tbq]

How does the rest of your credit look, what else is holding you back on your credit scores?

[Jason]

Hospital bills is what has me on scores. I have zero on my equifax. But 8 hospital on Experian and four hospital on Trans Union. No insurance on those bills either. They total about 11-15 grand all together and are all with in the SOL period. It is six years here in CO.

[kb9tbq]

Have you tried disputing them are are you going to wait for SOL to expire. I have some credit cards defaulted after divorce and I am not disputing anything right now myself. I am just waiting for the SOL to expire first. I got remairred and I plan to dispute off my old name if I can. That should help me when I get around to disputing the accounts with the credit reorting agency.

[Jason]

I disputed twice with TU and EX but they came back verified. So I am waiting for the SOL to expire which is in another three years. If I can come up with the money(hopefully) I will send the HIPPA WHY chat letter with payment.

I did take off the old adresses before I disputed and the hospital bills still stayed on my credit reports. With you it will probably be different though because of the name.

[kb9tbq]

Yes I have heard of why chat's letter for HIPPA that should help.

I have another 2 years on my debt, a few of them already filed judgments, but they could not garnish my SSI I am judgment proof. Still it is a 20 year SOL for Illinois.

[Jason]

No way........... SOL TWENTY YEARS! Holy Cow! That is shocking!!!!!!!!!

I am glad you only have two years left and can't get any judgments!

[kb9tbq]

I have 2 judgments against me but my social security is exempt from garnishment so the judgments I have are just going to play out the 20 years. I am from Illinois here.

[flak88mm]

I have. they reported me 30 days late and i sent a letter telling them to prove it or i'll sue them.. then they deleted it in a heartbeat!

[pointman]

But then the weird thing is it shows on "Experian" as helping my score because the account age is longer than many other accounts.

I may have missed one of your posts, but did you mention how long it's been since your last late? Lates hurt more when they're recent - less as they age without additional lates. Since it's paid off, they may not be hurting you all that much...

[Jason]

Last April 2007 the car was paid off and I was late.