Goodwill Credit Clarification

[thedude2014]

What is the name of your state (only U.S. law)? Kansas

I am attempting to remove a negative report that is being sent to all three credit agencies. The company reporting the negative information (Ford Motor Credit Company) has been unwilling to remove the report. The reporting states that I was "30 days past due".

I have attempted a " goodwill credit" that most companies will honor, but haven't had any luck.

Methods I have already attempted:

-Stated total balance has now paid in full, and was only late on this one instance.
-I was unemployed during this time.
-I had changed address during this time, which delayed the mailed billing statement.


I was able to confirm that late payments can be removed, but was not given the qualifying reasons. If anyone has had a dealing with this company or could provide alternatives that I have yet to try, I would really appreciate it.

Thanks

 

[justalayman]

I was able to confirm that late payments can be removed, but was not given the qualifying reasons.

that it was incorrect.


Is it correct in your situation? If so, they are reporting it as they should be.

 

[bdancer]

The ONLY one who can remove the late payment report would be Ford. It is almost unheard of for a creditor to remove an accurately reported late payment or any other negative on a regularly reported item like an installment loan or credit card. What ever "credit expert" site told you it could be removed just because you asked nicely or sent some special letter disputing it, would be a real good place to no longer take advice.

Just make on time payments and live with whatever damage YOUR late payment caused on your credit. In about 2 years, the impact of that late payment will be minimal.

 

[thedude2014]

Okay, thanks everyone. The late payment report that I received from all of the credit agencies indicates that it will stay on my file until 8/2020, so the short term impact may not apply for this situation.....Unless the "point system" used by the credit agencies adjusts the credit rating after a few years from the original negative report date. Is that what you were indicating?

And yes to clarify, I was told by Ford they could remove the late payment from their records...then report that to the credit agencies it should be removed. But, only under certain circumstances of which they would not fully discuss. Without knowing qualifying circumstances, I have no idea how to successfully file a dispute in hopes to have the report removed.

I would like to know if any legal options are available to remove the negative reporting. It seems to be more company policy, rather than a legal obligation to report. I fully understand that they must report the information they have accurately, but that they also have the ability to edit their own report.

-Thanks

 

[justalayman]

You cannot successfully file a dispute as there is nothing to dispute. The reporting is correct.


What Ford can and will do is entirely up to them. It appears they have no intention of changing the report. If you want to know what it would take to get them to change it, it is something you would have to take up with them.

The late payment report that I received from all of the credit agencies indicates that it will stay on my file until 8/2020,

when was this late payment?

 

[Zigner]

Okay, thanks everyone. The late payment report that I received from all of the credit agencies indicates that it will stay on my file until 8/2020, so the short term impact may not apply for this situation.....Unless the "point system" used by the credit agencies adjusts the credit rating after a few years from the original negative report date. Is that what you were indicating?

And yes to clarify, I was told by Ford they could remove the late payment from their records...then report that to the credit agencies it should be removed. But, only under certain circumstances of which they would not fully discuss. Without knowing qualifying circumstances, I have no idea how to successfully file a dispute in hopes to have the report removed.

I would like to know if any legal options are available to remove the negative reporting. It seems to be more company policy, rather than a legal obligation to report. I fully understand that they must report the information they have accurately, but that they also have the ability to edit their own report.

-Thanks

Adjustment for the convenience of the borrower is NOT one of their criteria.

I suspect that they might consider it if you show the late payment was due to something uncontrollable on your behalf. I'm thinking something along the lines of you showing proof that you were in a coma and paid it as soon as you were able.

 

[ShyCat]

I was able to confirm that late payments can be removed, but was not given the qualifying reasons.

It would be a poor business practice to provide their list of qualifying reasons so that person could craft their dispute to fit. "Oh, all I have to do is claim X, Y or Z? Fine, I'll just say X, Y and Z!"

You tell them why were you late, truthfully, and they decide if it fits their criteria for removal.

 

[davew128]

The ONLY one who can remove the late payment report would be Ford. It is almost unheard of for a creditor to remove an accurately reported late payment or any other negative on a regularly reported item like an installment loan or credit card.

I've done it myself. Its NOT that unheard of.

 

[LeeHarveyBlotto]

I've done it myself. Its NOT that unheard of.

If so, it's because they chose to do so, which means the advice given to this poster is accurate.

 

[thedude2014]

Thank you everyone for your advice. I do believe the only acceptable means of removal for late payment with this company would require life threatening circumstances. Lesson learned.

 

[davew128]

If so, it's because they chose to do so, which means the advice given to this poster is accurate.

Well no, it's NOT accurate. Saying they chose to do so and saying they CAN'T do so are contradictory things. The fact is, they CAN do so. They do not HAVE to do so.

 

[LeeHarveyBlotto]

Well no, it's NOT accurate. Saying they chose to do so and saying they CAN'T do so are contradictory things. The fact is, they CAN do so. They do not HAVE to do so.

As the OP already tried your suggestion and was unsuccessful, the advice was correct. Try reading ALL the words.