How to Remove Late Payments On Your Credit Report

How to Remove Late Payments on Your Credit Report
By Tonya L Andrews

With these tough economic times so many people fall into the category of having late payments on their credit report. Late payments on your credit report can be very damaging to your credit score. It is important to understand how lenders view people with them on their credit reports. The lenders see the them as a major problem and as that person can not pay their bills on time or that person will eventually not pay them at all. When trying to buy a home, most lenders will not lend money for a home if you have more than one late payment, especially a mortgage late payment, on your credit report. Many times credit card companies, banks and auto loan lenders will only approve your loan with a very high interest rate. Over a lifetime you could pay $200,000 or more in interest as apposed to someone who has none on their credit report and has an excellent credit score.

Are you wondering "Can you get these late payments on your credit report off?" The great news is yes, you can get them off your credit report. Of course you could let them ride for years until they fall off your credit. Unfortunately, the credit bureaus don't always do their job and remove items like they should. It is important to take action immediately and get them removed. Trying to get the late payments on your credit report removed by calling the credit bureaus can be a significant waste of time. The credit bureaus will just give you the run around and then tell you that you can dispute the items. In addition to that phone calls don't always get tracked where as mailing in the dispute does.

In order to remove late payments on your credit report your have a couple of options. Number one, you could do it yourself or number two, you could let a creditable credit restoration company with an A+ rating with the Better Business Bureau assist you in the process. With so many companies how do you know which credit restoration company is best for you. First, you want a company that is out there working hard for your dollar and delivering on the services they promise. Some companies offer "low cost monthly options" but it usually ends up costing you more money in the long run because the company disputes only one item at a time.

You also want a company who keeps your best interest in mind not simply their own pocket book. Educate yourself and be sure they know the process. Find a company that uses every possible strategy to get the late payments on your credit report removed. Third, you want the credit restoration company to have a proven track record and client success stories to back it up. Always remember that you want to review the companies' Better Business Bureau rating. The great news is you can take action to get them removed from your credit. Don't let your bad credit stress you out because there is something you can do about it.

Tonya Andrews is a Sales Director with Financial Education Services, a company dedicated to helping individuals achieve and maintain financial health. The FES Credit Restoration Division, United Credit, is backed by a 10 year track record of success and an A+ Rating with the BBB. For more information visit http://www.MyScoreRestore.com.

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How to Cope With the Stress of Not Paying Your Credit Card Bills on Time

How to Cope With the Stress of Not Paying Your Credit Card Bills on Time
By Justin Donald

From a very young age we are all taught by our parents to always do the right thing. Don't cheat, don't steal, don't lie, and on and on. As we grow into our teen and adult years we begin to experiment with budgeting, bill-paying, and yes, even having to manage credit card debt. Some of us may be prone to experimenting with other things using credit cards, but that is an article for another day.

One of the age-old adages that we almost all adopt is that it is extremely important to always ALWAYS pay our bills on time. Yes, I know Mozart was in debt, and many famous and noteworthy people also died in debt and penniless. But, as a society, we certainly don't want to teach our children how to end up in debt. However, sometimes it just becomes a fact-of-life that we as individuals, families, business-people may find ourselves for one reason or another head-over-heels in debt. Perhaps we willfully abused our credit card privileges. Perhaps we accumulated the debt from inheritance, home-remodeling, a once-in-a-lifetime trip, helping out a family member in need, or due to a medical catastrophe.

In any case, we may be faced with the tough decision to enter into a debt-settlement program and be forced to face one of our biggest fears... having to go delinquent purposely on our outstanding credit-card debt. Oh my, the stress! Many clients have said their biggest stress comes from no longer having that good feeling of paying their bills on time. Others have said they cannot deal with the stress of fielding harassing phone calls on their cellphones all day long, or worse than that... dealing with embarrassing calls at work. Others have even told us that they've gone to sleep at night dreaming that by not paying their credit-card bills on time that there was a likelihood they may be arrested... by the credit card police, no less!

So, how do we, or better yet, how can we cope with the stress of not paying our credit-card bills on time? First of all, we have to learn to be present and put things in a healthy perspective. What do I mean by present? Normally, as adults we associate feelings of guilt, shame, and negativity to our current problem that are a nothing more than a clear and direct result of how we associated those feeling from the pain of a past painful event. Our minds are like a long tape recorder of history and our minds tend to play tricks on us. Get present and clear-headed and tackle this current decision of not paying your bills on time with a sense of steadfastness and clarity.

When your mind is present and focused it's only then that you can "get your power" back and understand that by entering into a debt-settlement program you "hold all of the cards" and are firmly in charge of your financial future for the first time in along time.

Also, it is wise to have a healthy perspective. If you are going to go behind in paying your credit-card bills try to ensure that all of your other major bills are indeed being PAID ON TIME. This will help to create a strong attitude knowing that your whole "house" is NOT falling down. Lastly, open up to trusted family members and your debt counselor and talk about your feelings of stress. Never ever keep it bottled up. Try to live a productive positive lifestyle in all other areas of your daily life and you will no doubt be able to to cope with the unnecessary stress of beating the credit-card companies at their very own game.

For more information please visit http://www.newyorkdebtresolution.com

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