A good credit score is an important part of being financially healthy. Having late payments on your credit report can negatively affect your credit score. According to the Federal Trade Commission, you can check your credit report free at www.annualcreditreport.com. Payment punctuality makes up about 35 percent of your total credit score, according to the Consumer Federation of America. Therefore, it is important to make your payments on time, all the time. However, if you notice a payment that was incorrectly marked late, you must dispute it. Please note, though, that you can only remove inaccurate late payments from your report.
Step 1
Check your credit report at annualcreditreport.com (see Resources) as recommended by the Federal Trade Commission for inaccurate late payment information. The website will allow you to view all of the information on your credit reports from the three consumer credit agencies Experian, Equifax and TransUnion.
Step 2
Send a letter to the credit agency that has the error on your report. The letter should outline the inaccuracy and describe why it is incorrect. You should also provide any proof that you have, such as a canceled check or bank statement. The FTC recommends that you make copies of everything and do not send the originals.
Step 3
Send the letter by certified mail. Sending it by certified mail will ensure that you have proof of sending it, and when it reaches the destination you will receive a signature card in the mail. The credit agencies will often contact you within a week of receiving your dispute letter.
Step 4
Call the credit agency if you do not receive a response within two weeks. Following up is a good way to make sure that your dispute is processed in a timely manner.
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