how to avoid late payment on credit report

Suppose you want to know the How To Avoid Late Payment On Credit Report, then this article is what you need. It contains how to delete late payments from credit report. Also, it includes how to see late payments on credit report.

Late payments can have a major negative effect on your credit scores. They’ll remain on your credit reports for seven years, so you should do your best to avoid them at all costs.

If there are any late payments on your reports that don’t belong there, you can dispute them and their removal may improve your credit scores. And if you did make a late payment or two, there’s a chance that you can still get them removed as well.

how to delete late payments from credit report

How To Avoid Late Payment On Credit Report

There are two basic reasons why a late payment might be shown on your credit reports:

  1. You’re not at fault: The late payment is a mistake, and was reported in error.
  2. You’re at fault: You actually did make a late payment.

In the first case, it may be possible to remove the late payment from your credit reports by filing a dispute. The credit bureaus don’t want inaccurate information on their reports, so if your claim can be verified, they’ll take steps to fix the problem.

In the second case, you may be able to have the late payment removed from your credit reports. This process basically consists of asking nicely, explaining your situation, and promising to be more responsible in the future. There’s absolutely no guarantee that this will work, and you’ll have better success if you have a positive payment history other than this blemish.

No matter how the late payment (also known as a delinquency) got on your credit reports, it usually will be worth your time to attempt to remove it. In this post we’ll discuss when late payments will show up on your credit reports, and why you should remove them if you can. Then we’ll go over the actual steps of (a) how to dispute an inaccurate late payment, and (b) how to ask lenders to remove legitimate late payments from your reports.

Although we usually focus on credit cards, this information applies to loans of all types, like auto loans and student loans.

Insider tip

There are many credit repair companies offering to “fix your credit fast” for a price. Some of them seem to claim miraculous results, as if they can remove any and all negative items from your credit reports. The truth is, these companies can’t do anything that you can’t do yourself. They have no special privileges or access.

However, you may want to work with one of these companies — but only if they appear reputable. That way you don’t have to spend as much time and energy collecting all the contact information and documents you’ll need for a dispute. Instead you can hire someone who has been through this before, who can tell you what to expect and, hopefully, speed the process along.

how to see late payments on credit report

How Do You Dispute an Inaccurately Reported Late Payment?

Use this method if there’s an incorrect late payment on your credit reports, which didn’t actually occur. If you were at fault, learn more about removing actual late payments below.

You can also use this method if you actually made a late payment but there’s some inaccurate information associated with it. In this case you probably shouldn’t expect to have the late payment record completely removed. Instead, your creditor will probably just correct the error but the delinquency will stay on your report.

Disputing items on your credit report is free. You may need to dispute the late payment with several companies in all. Here’s the basic procedure:

  1. Identify the problem: Verify which credit reports the late payment appears on.
  2. Contact the creditor: Contact the creditor to see if they’ll correct the mistake and notify the credit bureaus.
  3. Contact the credit bureaus: If necessary, contact the credit bureaus to dispute the late payment.
  4. Confirm the error has been corrected: Check all three of your credit reports to make sure the inaccurate late payment has been deleted.

Remember to be patient. This process may be solved successfully at step 2, or it could take longer. You shouldn’t have much of a problem with the major credit card issuers if they clearly made a mistake, even if you have to spend more time on the phone than you’d like. But, it’s possible that other credit card companies might be more difficult to work with, like issuers of subprime cards.

Insider tip

If your dispute request is denied and you feel that you’ve been treated unfairly, you can contact the Consumer Financial Protection Bureau to register a complaint.

You might also consider speaking with an attorney about taking on your claim as a violation of the Fair Credit Reporting Act if your other attempts to fix the problem fail.

1. Check Your Credit Reports

If you believe you may have an incorrect delinquency, start by checking all three of your credit reports to see if the mistake is present on all of them.

When checking late payments, you should take note of the lender, account number, date, payment amount, and other details.

There are three major credit bureaus, and they each issue their own credit report on you. You should check all three:

  • Experian
  • Equifax
  • TransUnion

You can check your credit reports from all of the credit bureaus for free. There are also quite a few easy ways to constantly monitor your three credit reports, and see exactly what’s on them whenever you want.

The credit bureaus may show you a list of your delinquent accounts when you start an online dispute with them. We actually don’t recommend online disputes, however, as the “reasons” you’re allowed to give are pre-populated and it can be difficult to tell your side of the story. We suggest using certified mail for disputes instead.

Checking your credit reports will give you a better overview of your accounts than filing a dispute, letting you see when the supposed delinquency occurred. And if there’s one big error on your reports, like a late payment, it will be worth checking to make sure everything else is accurate.

Here are some free ways to check your credit reports. Some of these services will give you more information than others, however.

Checking your own reports will have no impact on your credit scores at all.

  1. Order your credit reports once per year for free: You can visit AnnualCreditReport.com to get one free copy of all your credit reports per year.
  2. Use a credit monitoring service (recommended): There are several free services that you can use. They don’t all provide your actual credit reports, but they can show you the information those reports contain. Here are some of the best:
    • Credit Karma for your TransUnion and Experian reports and credit scores (VantageScore 3.0)
    • Experian free membership for a full copy of your Experian credit report once every 30 days (credit score not included)
    • Credit.com for your Experian credit score and credit “report card”
    • Chase Credit Journey for your TransUnion report
    • Capital One CreditWise for TransUnion information and credit score (VantageScore 3.0)
  3. You may be eligible for additional free credit reports: Under the Fair Credit Reporting Act (FCRA), you’re eligible for a free copy of your credit report under certain circumstances, like if you’re receiving public welfare assistance or you’re unemployed and intend to apply for employment within 60 days. You may also be eligible for additional free reports based on your state law.

After you determine which credit reports have errors, you can move on to the next step.

2. Dispute With the Lender

Once you know that there’s an incorrect late payment on one or more of your credit reports, it’s time to contact the lender who reported it.

If this is a credit card issuer, this may be as simple as calling the number on the back of your card, or checking our list of credit card company contact numbers. Otherwise you’ll need to look up the appropriate contact information to call your lender. (Note: If you accessed your credit reports via AnnualCreditReport.com, you may be able to locate lender contact information near the end of your reports.)

You may have success simply by calling and notifying them of the error. They might check their own records, see the mistake, and take steps to rectify it.

In other cases, the lender may request proof that you didn’t make a late payment, i.e., proof that you made a timely payment for the billing period in question. A letter containing a copy of a bank statement showing the payment, or some other kind of documentation, may be able to satisfy a creditor’s request for proof. If your lender is satisfied, it will fix the error.

As a template for this letter, check out our sample letter to a credit bureau below. You’ll have to change some of the information to send it to your lender instead of a credit bureau, and you’ll also have to adjust some of the text based on what they tell you on the phone. But this should give you a good starting point.

If the lender agrees that the delinquency is an error, get it in writing. Get a written verification that the late payment was a reporting error by the lender, and not your fault.

Next, you should request that the lender correct the mistake with the credit bureaus and ask for the late payment to be removed from your reports. To be thorough, it may also be a good idea to send a dispute to the credit bureaus yourself.

Whether the lender submits the dispute or you do it yourself, be sure to check your credit reports in a month or two, to ensure that the delinquency is gone.

After you prove that the delinquency was in error, the lender should also refund any late payment fees that you paid.

The lender might agree that it was a mistake, but that doesn’t mean the late payment will immediately disappear from your credit reports. If the lender won’t send a notice of the mistake to the credit bureaus, for whatever reason, you’ll have to do it yourself. Or, if the lender doesn’t agree that it was a mistake, you can attempt to go over your lender’s head and bring your case directly to the credit bureaus yourself.

If you can’t prove that you made a timely payment you might be out of luck. But you can still try disputing with the credit bureaus, if the delinquency truly is an error.

3. Dispute With the Credit Bureaus

You can dispute information on your credit reports for free and with no negative impact to your credit scores. You can submit credit bureau disputes online, over the phone, or via mail. However, your best bet is typically to mail your dispute letter directly to each credit bureau via certified mail.

When you dispute an item on your report, the credit bureau must investigate it within 30 days (45 in some cases). Once the investigation is completed, the bureau must also provide you with an update to let you know the results of your dispute.

During the investigation, the bureau will review your dispute and the information in your credit file, and check with the lender. If the bureau verifies that the item is correct, it will stay on your credit report. If it discovers that the item is incorrect, the account will be updated or removed from your report entirely.

Insider tip

If you actually did make a late payment, don’t dispute it as inaccurate. Some people try this, hoping to get lucky when the creditor isn’t able to verify in time. We wouldn’t recommend lying in any case, but you should know that the electronic systems being used now are much faster than older systems, and verifications can be completed much more quickly. If you make false claims like this you could damage your relationship with the credit card issuer, and it may not approve you for its cards in the future.

We’ll go over how to submit a dispute with each of the major consumer credit bureaus below. You’ll need to create a free online account with each credit bureau to file disputes online. If you want to dispute by mail or by phone, you’ll need recent copies of your credit reports.

We recommend disputing by certified mail. Although each of the credit bureaus has a free online dispute system you can use, we actually don’t recommend online disputes. The “reasons” you’re allowed to give are pre-populated, and it can be difficult to tell your side of the story.

For disputes by mail, prepare to send in the following information. If you leave out any of the information below, the credit bureau might write you back to ask for the missing documents before your dispute will be processed. It’s also a good idea to send your letter via certified mail so you will have proof that it was sent in case your dispute is ignored.

  • Your full name, including middle initial (and generation such as JR, SR, II, III)
  • Your date of birth
  • Your Social Security number
  • One copy of your Social Security card (or a pay stub or tax document that includes your Social Security number)
  • One copy of a government-issued identification card, such as a driver’s license or state ID card, etc.
  • One copy of a utility bill, bank, or insurance statement, etc.
  • A list of each item on your report that you believe is inaccurate, the associated account numbers, and the specific reasons you feel the information is incorrect
  • Optional: Any supporting documentation, like a notice from the lender that the delinquency is inaccurate or a bank statement showing your timely payment
  • Optional: A recent copy of your credit report with the incorrect items circled

Only send copies of documents, not the original versions, because you won’t get them back. You don’t need to write a long, eloquent explanation of your situation. But the more supporting documentation you can provide, the better.

BEST SITES LIKE ALIEXPRESS FOR ONLINE SHOPPING

AliExpress is a massively popular Chinese online retail service owned by Alibaba Group. It was launched in 2010 and hasn’t stopped its journey to becoming the ‘biggest online marketplace of the world‘ ever-since. AliExpress stands toe-to-toe even with Amazon in terms of buyers worldwide. It offers wholesale goods at direct-to-consumer prices from Chinese sellers.

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It also works as a great dropshipping model for a lot of e-commerce entrepreneurs. Along with a lot of good sides, AliExpress has some cons as well. The biggest problem is the shipping time of AliExpress orders, which is pretty long considering the goods come from China. Also, some orders can be very expensive after shipping charges and taxes.

So, it is a good thing to have some AliExpress alternatives whenever you don’t like its services. That’s why we are telling you about 21 best sites like AliExpress. Some of these websites offer cheaper prices and faster shipping on certain products. And, you can also use them to maintain a nice profit margin for your dropshipping business.

1. LIGHTINTHEBOX

LightInTheBox is the perfect AliExpress alternative as it is also a Chinese e-Store. It sells hot and trending products across the globe. Their products range from phone and electronics to fashion, jewelry, shoes, bags, and many other items. You can find almost anything here at a very cheap price.

The delivery time of LightInTheBox is also similar to AliExpress as their warehouses are located only in China. But, you may get a faster shipping time due to having fewer orders to ship. You can pay for your orders with PayPal, Western Union, or your credit card.

2. WISH

Wish is a widely popular online marketplace where you can buy almost anything. From clothing to footwear, electronics, healthcare items, and many more things, you can get them all for an incredibly cheap price. They are also known to offer great deals and coupons to their new customers.

Their shipping time is also faster than AliExpress as their products come from sellers located in small countries. Wish also provides an advanced rating system that is very helpful for both the consumers as well as sellers. It helps promote good ones.

3. OVERSTOCK

Overstock is a US-based online marketplace. It makes profit by selling wholesale products at a highly cheap price tag. A major portion of their stock is comprised of overstock from the major retailers or their seconds. You can find some really amusing deals here. The shipping time will also be lower as compared to the Chinese marketplaces. You can get your items within a week.

The product range of Overstock is incredible. You can find everything such as clothing, decor, kitchen appliances, and many more items. You can even find furniture and other big home items. So, you can use to fill your house with great stuff at a reduced price.

4. DEALEXTREME (DX)

DealeXtreme, more popularly known as DX, is an amazing online marketplace. The website works in a very similar manner as ‘Wish’ and sells cheap products coming directly from sellers. It has partnered with many small businesses and sells its products to a wide base of audience.

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The shipping time is a problem with DX also because their warehouses are located in China. Apart from this, you can get some really worthy deals on DX. You should always keep an eye on their clearance sales for the best prices.

5. GEARBEST

Gearbest is the perfect AliExpress alternative if you are looking to shop for the latest gadgets or electronic devices. It works with over 5000 Chinese brands and top suppliers to deliver the best products. It has products from top Chinese companies such as Xiaomi, Huawei, Lenovo, and many others. But, it isn’t just an electronic store.

You can also find a massive range of other products as well. The prices available on GearBest are reduced, and you can even reduce them with the available coupons. They also have warehouses in multiple countries. So, you can get faster shipping from the local warehouse.

6. BANGGOOD

BangGood is another Chinese e-commerce platform that provides worldwide shipping of cheap goods. You can find almost anything on this website, from clothing to electronics, and even home items. The prices available are marked down from their original prices. You can also get amazing deals during special clearance sales.

BangGood provides a free $20 coupon to every new user. The shipping time for BangGood orders is faster than AliExpress for certain products. However, the regular shipping time is similar.

7. CHINABRANDS

ChinaBrands is a widely popular Chinese e-Store where you can buy products at wholesale prices. You can find almost anything on this website at a highly affordable price. Their shipping prices are also low but you will get a long shipping time. It is the perfect website for buyers who want the lowest prices but can wait for their orders for at least a month.

Most of the ChinaBrands sellers run their factories from China, and their warehouses are located there only. This is the reason for the considerably long shipping time.

8. BONANZA

Bonanza is a unique American online marketplace where you can find a great range of products. They have over 20 million items from more than 50,000 sellers. It is a growing e-commerce store where even you can sell your items. It is a preferred platform by more than 20,000 entrepreneurial sellers. You can find some really amazing handcrafted items and collectibles here.

For people looking to shop regular items, this store may disappoint you a little. The prices of some items may be a little higher than some Chinese stores. But, the quality provided will be worth it.

21 ALIEXPRESS ALTERNATIVE STORES

Here are 21 AliExpress Alternatives that you can use to shop online.

  1. LightInTheBox
  2. Wish
  3. Overstock
  4. DealXtreme (DX)
  5. GearBest
  6. BangGood
  7. ChinaBrands
  8. Bonanza
  9. DHGate
  10. TinyDeal
  11. Target
  12. MiniInTheBox
  13. GeekBuying
  14. Jet
  15. TomTop
  16. Target
  17. MadeInChina
  18. American Greenwood
  19. Walmart
  20. eBay
  21. Amazon

FINAL TAKE

AliExpress is amazing but it is always good to have options when you are shopping. So, these are the 21 best sites like AliExpress. If you ever feel like you should look somewhere else, these are some stores that you should visit. You can also use these for your dropshipping business if you are an aspiring entrepreneur. Make sure you have a solid plan before beginning.

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