 TITLE: How Can I Remove Late Payments From My Credit Report? CONTENT: Check Your Credit Report to See if the Late Payments Are Accurate\n-----------------------------------------------------------------\nTo start, review your credit reports and the details about the late payments. Consider which account is being reported late, when the late payments were reported and the amount that was reported past due. Keep in mind, interest and fees can lead to larger past-due balances.\nIf you're able to, review your own financial records about the account to see if there's a discrepancy. While even being one day late is enough for some creditors to charge you a late fee and dole out other penalties, many won't report an account as delinquent until it is 30 days past due.\nOnce a late payment is reported to one of the credit bureaus (Experian, TransUnion or Equifax), it can stay on your credit report for up to seven years. Even if you later bring your account current, the payment you missed will remain in your credit history as a record of what happened.\nMost negative information, late payments included, will be removed from your credit reports after seven years. Additionally, when a series of late payments leads to your account being closed, charged off or transferred to a collection agency, the entire account will be removed seven years after the first missed payment that led up that status. Chapter 7 bankruptcies stay on your credit report for up to 10 years, but the accounts included in the bankruptcy are also removed after seven years.\nIf you believe there's an error on your credit report, the federal Fair Credit Reporting Act (FCRA) gives you the right to dispute the item with the credit bureaus at no charge. The credit bureau will typically contact the company that reported the information and ask them to verify its accuracy. The creditor must complete a reasonable investigation and generally has 30 days to respond to the dispute. If additional information is provided during the dispute process, 15 days can be added to the investigation period. END