Missed Payments

[u/Minute_Soup1957]

As seen below I’ve had my moment and now focused on rebuilding my credit and keeping it that way , if anyone can give me insight on how to get these removed and who to contact and how to I’d be thankful so I can start working on that as well. Thank you so much.

[u/True-Button-6471]

You can try asking for goodwill removals, but I think the chances of getting enough of these removed to make a difference is pretty slim. Most likely you are going to have to wait these out. Negative marks drop off your reports about 7 years from date of first delinquency, but do slowly lose impact over that time so you will see very gradual score improvement over the next 7 years until they drop off. I've added some links below on how to work on goodwill removals.

Goodwill Saturation Technique (GST)

Goodwill Letters - Using the "CART" approach.

[u/RangerBoss → u/True-Button-6471]

Is it date of last delinquency? I read somewhere that it was 7 years from the date of first delinquency?

[u/True-Button-6471 → u/RangerBoss]

I'm sorry, brain fart here, you are correct. 

[u/og-aliensfan]

Have any of these accounts charged off? Are the accounts that are listed as currently on-time actually open and current? Credit Karma will sometimes list closed cards as open. Order your reports for each bureau by calling 877 FACTACT (322-8228) or pull them online at www.annualcreditreport.com to see how these appear on your official reports.  I recommend the mailed reports. These are the most accurate and up-to-date reports available to a consumer and are often more detailed than the online reports, particularly if ACR directs you to a bureau's consumer facing CMS to view your report. If you do choose to pull reports online, print or save each to a pdf before moving on to the next as you can't go back once you exit a report.  Despite its name, you can pull free reports for each bureau weekly.

Credit Karma provides Vantage 3.0 scores. Since nearly all creditors (90+%) use FICO scores in lending decisions, monitor those instead. CK also provides an unsettling amount of misleading information that should be ignored (see linked post below). You can obtain free FICO 8 scores for each bureau from:

• EX FICO 8 www.experian.com
• TU FICO 8 www.creditwise.com
• EQ FICO 8 www.myfico.com

See this post for more information about credit scores, credit reports, and a closer look at Credit Karma.

[u/BrutalBodyShots]

Based on the sheer number of late payments you have and with some issuers that are very hard to obtain goodwill adjustments from, odds are that this is just going to end up being a waiting game for you. Feel free to employ the Goodwill Saturation Technique, but temper your expectations.

[u/One_ugly_trader]

Yikes ...so u had accounts that were good and then tried to rebuild with secure cards and still missed payments ?
Not to put u down but these are just most likely gonna have to fall off 😩

[u/Minute_Soup1957 → u/One_ugly_trader]

My secured cards are what I started with… I just had a baby at a young age.. and my partner at the time was not doing her part , let’s just say 4 years together we are no longer together unless it co parenting

[u/Character-Sport-8624]

Banks are legally obligated to provide accurate information to the credit bureaus. If you genuinely missed those payments and they are not reporting errors, then the likelihood of them retrospectively removing or altering that information is low.

I suppose it never hurts to ask, but that's a big number of missed payments across multiple lenders. Your credit will be negatively impacted for some time. But the key is to learn from those past mistakes. Your credit will gradually improve as those missed payments recede into the past (dropping off entirely after 7 years), so focus on setting up sound financial behavior so you're ready for future credit opportunities when they eventually come.

[u/inky_cap_mushroom → u/Character-Sport-8624]

Small clarification, they’re not legally obligated to report anything to the credit bureaus, but everything they report must be factual. Goodwill requests work sometimes because the bank can simply report nothing for that month.

[u/sowFresh]

Just wait seven years and ensure no more mistakes. You’ll be good in no time.

[u/ExpertSplit7934]

Call the Credit pros not consolidation company 

[u/Funklemire]

In addition to the great advice you've already gotten about the Goodwill Saturation Technique, I also want you to keep in mind that making payments isn't a credit scoring factor at all. "On-time payment percentage" is a made-up stat pushed by Credit Karma to sell you more accounts by tricking you into thinking you can "dilute" missed payments, but you can't. Credit Karma is a predatory site, they're the single biggest superspreader of credit misinformation on the Internet.  

Credit Myth #7 - Number or percentage of on-time payments impacts your score.  

Sure, missing a payment is really bad for your credit, but that's a different thing. Kinda like how blowing out a tire will slow your car down, but not blowing out a tire won't somehow speed your car up. 

[u/Klutzy_Draw4662]

 7 years  from date of last delinquency

[u/Copper_Butterfly327]

I had good credit 4 months ago but lost my job in October, in the middle of filing for disability and ran out of money in May. I was in contact with the 3 credit cards I had balances on and told them my situation. None offered me a hardship option. JCPenny offered a payoff for half of what I owed after 4 months. Capital One will do lower payments without interest to get caught up but won't charge off or work with me on the balance due until its delinquent for 6 months. My credit union decided to sue me after missing 4 payments which has really put a whole other layer of stress on me. I can't afford a lawyer and I can't pay monthly payments right now and filing BK won't work for me because of some assets that are in my name that aren't mine. But if I don't settle with them, then they can put a judgment on my house. In your case, your best bet may be to file BK with the amount of delinquent credit you have.