Martin Mills

Can you remove late payments from your credit? YES you can!

10-19-11

It is possible to remove late payments from your credit report, one process is called re-aging. The re-aging process can remove late payments from your credit report which will help raise your credit score.

Yes, you can erase bad debt.

So what is re-aging? Most people, even a self-proclaimed “Credit Expert”, is unaware of the positive aspects of re-aging an account. You will find hundreds of articles on negative re-aging. The FCRA is clear that a charge-off can only be reported in a credit history for 7 ½ years from the date of the first delinquency. As accounts are transferred from one collection agency to another they may report a more recent delinquency date. This illegally extends the time period in which the charge-off or collection is included in a credit history. This is a violation of the FCRA and is illegal.

Positive re-aging helps you. Re-aging your account means the creditor will clear all late payments from a debt once there is an agreement between all parties. If a creditor approves, they will begin to report the account as being current rather than delinquent. Any late payments will be removed from the credit report, and your credit history will appear to be positive again.

This will only happen at your request. If you have an account with an isolated late payment, it might be worth asking the creditor to consider re-aging the account. You do not necessarily have to be late at the time of the agreement.

If you are delinquent and want to re-age your account there are some requirements the creditor will have. First, you have to prove the means to make regular repayments, as well as what you are behind (arrearage). The law requires an account to be 9 months old but we have seen accounts that are only five months old receive courtesy removals. If your account is currently delinquent you will have to make three consecutive timely payments.

The creditor is not obligated to re-age your debt, so you may want to consider hiring a Credit Expert to help you with this. There is a down side to re-aging, if you have a “limited” credit file and the account you are re-aging is older, you could wind up lowering your score by removing some of the older history from your credit file. Re-aging your credit can reduce the length of credit history and that is a key component in your credit score.

Most people are not aware of their rights when it comes to credit and credit reporting. As a Credit Expert we want to help empower people. When used legally and proactively, Credit Repair process can help make late payments disappear and help consumers raise their credit scores legally and ethically.

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Martin Mills
Cambridge Credit Consultants

Martin Mills: Real Estate - Other in Grand Rapids, MI

Office: (616) 949-2211

Mobile: (616) 443-5337
Secondary: (877) 497-2673

We specialize in credit coaching, credit education and credit repair. We can help you achieve more closed transactions; our top referral partners added over 35% to their bottom line

Cambridge Credit Consultants specializes in credit coaching, credit education and credit repair. We can help you achieve more closed transactions; our top referral partners have added over 35% to their production by utilizing our program. At Cambridge we will cultivate your unqualified prospects and turn them into qualified borrowers for you instead of them clogging up the pipeline or worse yet applying down the street at your competitors. Everyone deserves legal protection. And now, with LegalShield, everyone can access it. Not matter how traumatic. No matter how trivial. Whatever your situation is, we are here to help. From real estate to divorce advice, identity theft and beyond, we have your rights covered. Welcome to total peace of mind. Welcome to LegalShield. Total Access. Total Freedom. ID Theft Protection is now available. We handle on the best. Kroll administers this complete program with restoration services. All other programs are Do It Yourself. This is the Only one that will restore you credit for you.

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Here at Cambridge, we raise your credit score by utilizing our "Three Prong Approach" which combines Credit Coaching, Credit Education and Credit Repair.

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"Working with Cambridge Credit Consultants was great. They took their time and explained everything to me every step of the way to improve my credit scores. Sometimes I did not understand things that was going on and they took the time to walk me through everything and were very patient with me. I can actually say that they held my hand all the way throughout this process. Whenever I called and left a message they always got back to me within 24 hours. Everyone was very helpful and professional. After working with Cambridge Credit Consultants I now have a better understanding as to how to stay on top of things to keep my credit scores up, along with understanding credit reporting better. It was great working with Cambridge and I would refer anyone to them that needs assistance with getting their credit together. Thank you for everything" -Annette M.

"Thank you to everyone for helping me get approved for my first home. When I first applied for my mortgage I was devastated to learn my score was only 519 points. With your help I was able to raise FICO score to 650 in just 60 days. Little did I know with the right instruction and due diligence just how much I could improve my credit score." -Robert D.

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"Dear Cambridge Credit Consultants. I just wanted to take a few minutes to say thank you for all the work you did for me and family. I never thought I would have owned a new home. But thanks to you I will be soon. You guys did a great job on my credit. I would be glad to tell my friends and family about your line or work. You guys also did it fast and now I should have my new home before summer ends. And again thank you so much." - Maria T.

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“Cambridge Credit Consultants has been a great organization to work with. In a very short time they helped me repair my credit rating based on inaccuracies within my profile, and they offered expert advice on how best to improve my rating using some simple steps. Their work enabled me to get a mortgage within 3 weeks after restoring my credit score to the acceptable levels required by the bank. I would highly recommend them to anyone looking to improve their credit.” - Paul D.

"I signed up with Cambridge Credit Consultants a few months ago, I was ready to get my credit back on track. I've been working with Jason and I can honestly say he's been a godsend to me. He explained the process to me and he was always there to answer any questions that came up that I had. After about a month in the program, my credit score improved faster than I ever expected it to. It's been a little over four months that I've been in the program and I'm happy to say that I'm about to close on my first home. Cambridge Credit Consultants is worth every penny that I pay and then some, because I'm now a homeowner thanks to Jason and the Cambridge Credit Consultants team. If it weren't for you, my dream wouldn't be coming true at this point and time. Thanks so much for all that you've done, may God bless each and every one of you." - Webster M.

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"I am writing to convey my sincere Thanks to everyone at Cambridge for their efforts many times over in assisting me with credit repair and enhancement. He and his team have corrected, repaired, and paid off accounts working toward building a stronger financial future. In this world at this time, we all have to pay MORE attention to these things that we used to just feel would all work out.. The fact is, we are so busy in our daily lives that we need professional help from those who know the CORRECT way to make things better in our financial world. Again Thanks to everyone at Cambridge for their PROFFESSIONAL way in working with us and our financial needs. I have referred several of my family and friends to Cambridge for assistance in credit enhancement."-Frederick B.

“Martin was able to repair my credit in a reasonable amount of time so that I could get the loan I needed. Trust is very important to me I did not have any problem trusting him. He did everything according to plan. Thank you Mr. Mills.” -Stacy P.