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Originally Posted by Bretsky
Quote:
Originally Posted by pittstang5
Bretsky and maybe the others in here - I hope this isn't a repeat, but I just noticed this thread and didn't feel like reading through 6 pages.
I have one little blemish on my credit report - a late payment to an electrical company while I was in college. What can I do to get it off my credit report or do I have to wait the 7 or however many years it takes to go away. Which leads me to another question, will it go away in 7 years?
So far it really hasn't affected anything. I was able to get a mortgage and car loan. However, my wife is on the mortgage as well and she has excellent credit. But I hate seeing that one little negative.
Sorry Pitt, have bad news here. There is no way to get the negative trade removed from credit. After 7 years it should fall by the wayside. Just remember it becomes less and less of a factor for every month that goes by and you make all your payments on time. And nothing helps a credit score more than mortgage payments on time.......in same tone......nothing will kill a credit score more than being last on a mortgage payment. So shake it off, buy a bunch of houses, and get rich.
Cheers,
B
Well, I just got back from vacation and read this thing. Whoooo. Gosh where to start? I thought about just letting it go and pretending that I didn't see it, but.... :mrgreen:
Lots of good advice in this thread, some not so good and some just plain wrong.
B, what you wrote above is accurate, PROVIDED he made the payment late. If that is the case, he MIGHT be SOL. First off, I'm puzzled by the "electric company" on a credit report. I've been buyin' electricity for about 28 years, and have NEVER seen the electric company on my credit report or any of my clients, UNLESS it went to collection. That's more than a late payment.
So, Pitt, assuming that you really didn't pay on time, as it looks that way, you may be SOL. There is, however, no harm in disputing it with the credit bureau. They've got 30 days to verify it with the creditor who placed it. If the creditor does not/ or cannot verify it, it gets removed. Most verify these days, however some do not. Also, items of <$50 should not appear on the credit report. Electricity could fall into this category.
It is important to note that to dispute anything you must do it off of a current credit report (within last 30 to 60 days for the most part), and second, it is recommended that you only dispute ONE ITEM at a time. Disputing multiple items makes it look like you don't have a valid complaint, and the credit bureau can legally ignore your request.