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Overdue payment letter for Research and Development

did you know ontime payments account for 35% of your overall credit score that's the biggest Factor affecting your credit score to date if you had a perfect credit score right now and you were to have a late payment report 30 days pass due it could drop your score on average 100 points not to mention it stays on the report for up to seven years so today I'm going to show you step by step how to remove late payments from your credit report we're not going to be writing Goodwill letters we're not going to call I'm going to show you online how to remove late payments from your report step by step as fast as possible all right so the first thing we're going to do to get started we're going to go to either experian.com or you can also use identity IQ my preference is experion with Experian you can get all three credit bureau reports and you can get it for TransUnion Equifax as well um I use them a majority of the time I didn't IQ is also very good if you don't have either account I recommend maybe identity IQ to start you can start a free trial with them for as low as a dollar if you don't have an account right now um if not you can just use whichever one you prefer but I recommend that you use one of these two so if you don't have an account with either one of these two first thing we want to do is create an account and then we want to log in so I'm going to give you a second to log in to either Experian identi IQ if you don't have an account create one and then I'll see you at the next step all right so once we're logged into Experian or identity IQ we're going to scroll down and we're going to find the account that's late for this example I'm going to be using this Credit One bank account so we see we have a late payment here we're going to click on that account all right so for this account there's a late payment in September and there is a late payment in October no data for November for November and no data for December now I'm using this account as an example and we're only looking at the Experian part of the credit reports right now let's say that this same account with credit one was to have 30 days past due in September and 60 days um in October but then we looked at our TR Trans Union report and September was paid on time but it was 30 days late in October that would be an inaccuracy and then we would also look at the same thing with Equifax so with this account um I believe that at the time because I can't pull up the other report for TransUnion or Equifax right now but in this example September's 30 days late you're 60 days late in October the other one for TransUnion or Equifax they had the opposite like uh paid on time but but 30 days late in October that is an inaccuracy and that's an inaccuracy that we can actually use so what I would normally do is take this and then I would screenshot it um if you're on a MacBook it's shift command 3 screenshot that and um I would probably screenshot the the the top two so you can get the account information here so shift command and three that way we have the credit one name here we have the account number we have this showing as uh 30 days late and 60 days late right and then we're going to screenshot this we would then upload this to the cfpb and then we're going to use this screenshot in our dispute so um again right now this is the only account that I have as an example but what you'll want to do is just make sure that you find the account that's late you want to make sure to get the account number so make sure that you have that account number copy because we're going to need this account number when we go um and file the the dispute with the cfpb right and then we want to make sure to have the screenshot of this payment date for September and October and we want to make sure that um we're reporting to late payments so once you gather all your information you're going to C the account number you're going to get a screenshot of that account that is late from the payment history Legend all right we're going to go over to the uh cfpb and then we're going to file this complaint now before we go ahead and file that complaint with the cfpb I always like to pull up the Cornell Law School um compliance procedure so that's 15 us code 1681 e and the part that we're always looking at is the be section accuracy of report so whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates so this is actually what we're going to use in our dispute right we're going to be using the accuracy of a report we're going to go ahead and let them know that that account was not late and it's up to them the burden of proof is on the consumer reporting agency you have to understand the credit bureaus are not government entities right they're just data furnishers right you need to make sure that they're reporting accurate information on your credit report right and the burden of proof is always on them to prove that something is not inaccurate it's not on you okay we're just trying to make sure that our report is 100% accurate it's up to them to gather information to to determine if if that's not true so um we're going to go ahead we're going to take what we have here the 15 us code 1681 e compliance Pro procedure section B and I'm going to show you how we're going to use this in order to file our dispute with the cfpb on the next step all right so now we're on the cfpb that's the consumer Financial Protection Bureau and I want to read this too so we're the Consumer Financial Protection Bureau a US government agency dedicated to making sure you are treated fairly by Banks lenders and other financial institutions so again the credit bureaus are just data furnishers the cfpb is an actual government entity right so this is the actual this is the only real Bureau right the other ones are just companies that furnish information this is the only government agency right so this is who they have to answer to in case we have any complaints so we'll start by submit a complaint and then we're going to scroll down start a new complaint if you have an account you're going to go ahead and already submit um already submitted a complaint or created your account we'll click on that you'll sign in at the next step if you don't have an account just take the time fill out this first name last name email phone number and you're going to create a password you'll sign up and you'll verify your email and once you've done that or you've logged in then we'll proceed to The Next Step all right so once you're logged in we're going to go to start a new complaint all right the option that we're looking for is credit reporting and other personal Consumer Reports so we're going to click on that and what type of credit reporting product we're going to go to credit reporting all right and then we're going to go to improper use of your report so shareed without consent credit inquiries from unknown sources all right and then reporting company used your report improperly and then have you already tried to fix this problem with the company you want to always click yes did you request information from the company you want to click yes what information did you request in this case we can say um statement proving I was late on this account and did the company provide this information just always select no they did not provide this information all right so we're going to fill out all this information again improper use of your report reporting company used your report improperly did you already try to fix the problem yes did you request the information from the company yes the information statement proving I was laid on this account and did the company provide this information know so fill all that out and then I'll see you on the next step all right so on the next step I've already typed out exactly what we're going to want to say um you can modify this slightly I always recommend just maybe changing it up just a little bit or if you want to take it verbatim then you can so I recently reviewed my credit report and noticed an account that was not reporting accurately I had two late payments or one depending on on what you're doing I had two late payments on an account that was in fact paid on time the consumer reporting agencies need to report all information with complete accuracy let me just fix that this account has not been late on payments I've attached the copy of my report to this complaint on the following dates you want to make sure to insert the dates here and you want to use the twod digigit date so if it's uh February 2024 you want to do 02 sl24 I'm now requesting you investigate and provide verifiable proof with records showing that I had late payments if this information cannot be verified I demand these payments be updated to paid on time immediately thank you for your understanding impr prompt action so anything along these lines is fine you can modify it slightly uh you know change a little bit of the words if not use the same one just be mindful if you do copy this directly make sure you update it to the payments that you have now um I recommend that you don't do this for more than two late payments you know if it's one or two then um then that's good if it's uh if it's two or more you might want to um attack this differently you might want to do like in sets like one late payment let get updated and then do um you know if it's two more then do the other two but I wouldn't try to do it all at one time I would try to do just maybe no more than two at a time so what would be a fair resolution to this issue update the account to paid on time and never late very very simple straight to the point and you attach your documents so you see the screenshots that we took I've attached them here and then they'll be forwarding them to the company company so um take a look if you need to copy that and then this here too all right and then we're going to be moving on to the next step all right so on the next step we're going to type out all the companies that we're disputing with so we're going to start with Experian and you could pretty much pick any one of these um Experian at the top Experian credit reporting agency Experian credit reporting Experian credit bureau so let's just do Experian credit reporting agency and then you're going to enter your social security number your name as it appears on the credit report and your date of birth so whatever your social is you can enter that you can enter your date of birth now this is important however your name is shown on the Experian credit report you want to enter that so if your name was stepen and it's showing s p Heen last name Smith you want to enter it like that if your middle name was James Stephen James Smith you want to enter it just like that if they had your name with capital pH e n however it's shown on your credit report that's the exact way you want to make sure to enter it okay so just make sure to enter that exactly how it's shown on that report so however they did it enter it like that do you want to complain about another company yes um let's add TransUnion now so for TransUnion same thing I'll use TransUnion TransUnion uh with the capital TransUnion um intermediate Holdings Inc uh with with or TransUnion credit reporting agency so whichever one you want to enter have you already tried to fix this problem with the company so we want to enter the exact same information yes did the company uh did you request information from that company yes what information did you request and say the same thing a statement proving I was late on this account all right did the company provide this information no so we want to enter all the same things right and then we're going to enter the same exact information uh social security number date of birth same thing and then again however your name appears on TransUnion you want to enter it like that you may have multiple names if you do have multiple names you should refer back to my video about removing personal information I'm going to link that video right around here so you can watch that okay so however it appears let's say on this one it has first name middle name and a last name however it appears we're going to enter it that exact same way all right and then do you want to complain about another account yes we do uh we want to complain about Equifax and then same thing Equifax credit bureau Equifax so Equifax credit bureau have you already tried to fix this problem with the company yes we did did you request information from the from the company yes we did what information a statement proving I was late on this account same information did the company provide this information no all right and then same thing social security number name as it appears uh and date of birth so you want to run through and just enter all this information for all three credit bureaus once you're done then I'll see you on that next step all right so this is the the last step step five it's going to ask who are you submitting this complaint for I'm going to click on myself but after I click on myself I'm going to cut to the end because my personal information does come up but when you're submitting this click on myself okay and then we're going to look at the review and then we're going to get to the very end so after I clicked myself all I did was simply scroll down to the very bottom and then you're going to click on review all right so it's going to have you review the complaint um you're going to scroll down and just you're going to see all the same information again it shows some personal information so I'm just going to scroll down to the very bottom all right so you're at the very bottom you just want to um authorize and direct the consumer reporting agency identified in my complaint to share determinations and actions taken by the company for the purpose of responding to my complaint cool the information given is true to the best of my knowledge and belief we want to check these and then you want to submit the complaint so that is all the steps that I have for you today and getting late payments removed from your credit report we're pretty much all done um review the information make sure that you have everything completed if you don't receive an email within like 2 or 3 minutes showing that the complaint is completed you do want to make sure that you go back and submit the complaint again if you uh sometimes go back or refresh the page the complaint does not get submitted so you want to make sure use an email that you're actually going to have access to you want to make sure that you get an email confirming that the complaint was submitted and then you can go back into your account and you can see that that the complaint was submitted all right so um all I can recommend is that you guys if if you've done this to get the late payments I suggest going to watch my video about personal information checking out the videos about removing heart inquiries and also about removing the collections this was a video that was requested in the comments so thank you if you guys have any more ideas for videos that you want to see please leave it in the comment at the bottom so that I can um I can make those videos for you too whatever you think that you have questions about please let me know I'll do my best to make a video uh for that I appreciate all the love that I've been getting we're almost at 100 subscribers and I think it's been like less than a week so I appreciate you guys so much we're growing fast you guys have a wonderful day