I have an account number that was reported late for student loans. I did not realize the amount due had changed, so I continued to send the old payment amount. Once I knew I was behind, I contacted the lender and told them how I planned to get caught up. I followed through with plan and am trying to get the negative information removed because it has ruined my good credit. Each part of the loan account was reported as delinquent separately, so now my report shows seven late payments, even though I only paid the wrong amount one time. This does not seem right.
Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a “0” balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment?
If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report?
I mailed one payment late because I forgot about it, and when I remembered it was one day late. How bad will that look?
Do creditors have any obligation to notify you directly of an impending report of a late payment other than a monthly statement?
If an account is paid off/closed, settled, or charged off, why would it still be showing as potentially negative? Is there any way to get these removed so they no longer affect me negatively?
I’m considering entering into a six month reduced payment plan with my mortgage lender. I understand this will have a negative impact on my credit. Will this have a worse impact than being 30 days late on my mortgage payment?
I have paid off an account that previously had a late payment mark on my record. Is there any possible way to remove the negative mark on my credit scores, now that the account has been paid off?