How Removing Late Payments Can Increase Your Credit Score Fast

all right guys mike from the credit game hey take a second please before i start this video because i'm about to drop some serious bombs on you guys and help you out tremendously in this video remember every video that i do is usually because our team out there is asking hey like they're hearing all these things from our students what do i do here what do i do here what do i do so what we do is we create videos based on real live situations that i can actually help you with as opposed to just making up topics that are trending so if you would take a second if it's your first time on channel every single day monday through friday and saturday i'm doing one to two videos every day and the only channel does it this much i want you to immerse yourself in credit understand how it works um know it's so good that literally it doesn't take a like a second thought when you have to make a move when it comes to credit whether it's getting a house a car or credit card whatever you know the tips tricks and strategies because you're listening to me every single day so take it both sides there's either one of the sides there's a subscribe button if it's your first time please hit that for everybody else uh if you would take a second and make sure that you turn on your bell notification now why i say turn on your belt is because i'm doing the videos multiple times a day so you guys can learn i'm also doing it so that way you know the more that you immerse yourself with videos and listening the better credit score you're going to have so if you turn on your bell you're going to get a notification every time i do a video and thus you're going to get better at the credit game turn on your bell select the word all right it's a little bell you'll see the top right corner select it select all and if this video uh you can find value in it which i'm sure you will do me a favor and click the thumbs up button right that helps you all great and that's why we were able to grow the fastest credit channel in national history because of you guys being able to help out and make that a possibility so we're going to talk about a few things first i want to give you a couple numbers all right the number 180 is going to represent something very powerful the number 85 is also going to represent something very powerful so what do these numbers represent so today's topic that we're going to talk about is how to remove late payments from your credit report and how important is not to have those but also what it's going to do if you get them removed or better yet if you never get it at all how much point you're actually saving so the number one thing on our credit report is called our payment history okay which calculates to be 35 of your credit score so the number 180 represents this let's say that you're at a 780 credit score right which is considered to be perfect because anything over 780 is just bragging rights between me and you and friends if i'm like i'm at a 27 you're like i'm gonna 781 neither one of us get us better interest rate lower down payments it's called a1 credit so once you get to that 780 mark i don't care if you have an 849 it makes no difference okay but if you get a late payment on your credit and you are a 780 or higher that 180 points represents what you will get uh removed from your credit points okay so literally 180 minus 780 leaves you with a 600 credit score one missed brand new late payment you worked your tail off to get to a 781 and you made a mistake forgot to make your pay and i'll talk to you about what a late payment is here a mistake happened one lane payment can bring you down to a 600 credit score on top of that you're gonna have that late payment for the next seven years so the reason i say 781 all the way to 85 is because let's say you have a 30 60 90 late payment but that 90 days was about a year ago you can expect somewhere around an 85 point decrease from your credit score of where it should be okay so let's say for example you uh would have a 700 but last year you got a 30 60 90 wait works is 30 days right it's 31 days after your due date so your due dates on the 15th of the month right just because you paid on 20 doesn't mean it's going to report to the credit bureaus late you're going to have a late penalty from the credit card right or the car whatever they're going to charge you a late payment but it's not going to hit the credit bureaus until 31 days after due date so let's say your payment was due on the 15th of february and you don't make your payment until the 16th of march then they're going to report that 30 day late anything in between there the 30 days they give you a buffer it doesn't report till day 31. so but let's hypothetically say that last year in 2020 you got a late payment 30 days it went 60 then it went 90 right three consecutive months in a row that you didn't make the payment okay now happened last year now now we're in 2021 right so we're like boom we're a year later so what's gonna happen is this you are looking at it somewhere around 85 points off your credit score so where you should be at 700 hypothetically you would really be at a 615. so you beat a 615 if you get those removed you go up to 700. that's why it's so important because this is the biggest factor of your credit score to be able to not have late payments it's your payment history it's 35 it's literally more than a third of your whole score is how you're making your payments and that's why one late payment can crush you i surveyed over 50 people i put it inside the credit game for you guys over 50 people with an 800 credit score to say hey what is the number one thing that you're doing i want to learn from the best i want to say look today today i'm in 829 right i'm one of the 50 people and i'm going to tell you something i calculated what those 50 people said i said hey what is it the one thing that you're doing that has kept you at an 800 credit score and the one thing most people don't want to do but it's the most valuable and 23 people out of the 50 was the highest amount 23 people out of the 50 said i selected auto deduct on my credit cards my vehicle and my home and a lot of people don't want to do this but mark my words let me tell you something if i surveyed 50 people with over 800 credit score and the number one thing was that they took their credit cards and they decided instead of trying to figure out with all their credit card payments to figure out when the due dates were right and to try to figure out how to make payments they selected to have it coming out of their checking account on the due date so they never missed a payment now let me tell you something there's a lot of reasons why people won't want to do this one because you don't have the money in your checking account so you're worried about overdrafting right so if that is you make sure that your savings has an overdraft protection so that way if it pulls from the checking and it's not there then it will pull from a savings account okay because the last thing you want to do is have it pull from a checking it's not there and then you don't find out because the savings doesn't have the overdraft and therefore you do the same thing not only do you have a 35 fee but you also have a late payment so make sure if you guys are financially stable to put your credit cards your car your house anything you have and have it set up all you gotta do is call the credit card company say i want to set up on auto okay cool what's your checking account number you give them the checking account number they're gonna set it up and it will come out automatically this is the number one thing for 800 people so when i surveyed a bunch of millionaires also i said what is the one thing that you guys do what is the one thing that a millionaire does well i read they read right the average person reads less than one book a year the average millionaire reads more than one book a week so you would think that okay if if i'm educating myself with books that that would be the one thing that i would want to do well i did the same thing with it with 800 credit score people i said what do you and they said auto deduct so make sure you guys are taking what i'm saying and just implement right so today we're talking about points i just told you how many points can be removed from your credit if you fail to make a late payment but how do we get remove the late payments because look good people can get into bad situations would we all agree that a good person could go through something i want you guys to put below the one word i'm looking for that every single person this entire planet just went through and they're still going through to some level five letter word put it in comments every single person in this entire planet not just the united states the entire planet is going through or has just went through this type of worldwide situation five letter word put in the comments below for me there is no magic secret to removing late payments from your credit report it's not this you know bing bang boom at all once it's this magic pill and it just disappears there's two things that can happen okay first you have to understand 1970 the fcra is what protects the consumer okay us as consumers are protected by the f c r a fair credit reporting act it is an act that was put into place to protect us from the creditors and the credit bureaus okay it's also protected you know credit cards it is a protection bureau that says hey we're not going to let these companies screw the public so that was put into place okay to protect us as a consumer you are a consumer you have the legal right to challenge anything that you feel on your credit report is not supposed to be there that would include incorrect something that's obsolete you believe it's unfair it's an erroneous information on there right so all that information and maybe it's unduly but whatever reason you feel that you're looking at your credit report and knowing that 77 of credit reports have some type of error on there that would make you think that three out of four people have something negative on their credit report that it was not their fault now when you know that 77 percent of people that have negative and you know now how to indicate and find the inaccuracies on your credit report this makes removing late payments much easier because you know what to look for do i look for the credit limits to be incorrect is there something missing between the three credit bureaus when i'm looking at my credit report right are the dates incorrect when it was reported the open date incorrect is it still open after seven years were you a victim of identity theft did someone steal your information was it someone in your family that had this credit card and it's supposed to be on theirs and not yours right these are called inaccuracies on your credit report and if you know what you're looking for you can get rid of these late payments so let me tell you two ways to get rid of late payments actually off your credit report and there's no magic here okay number one the reason why i asked you about what was going on in the world right now was this every single human being listened to my voice has went through this situation and what i want you to do is understand that the creditor the person who put the late payment on your credit whether that is credit card company whether it was a vehicle your mortgage company they have a software okay it is called e oscar that is the transmission between creditor and credit bureau so the creditor says hey john smith was late okay he's at 30 day 31 days late well we don't want people to take advantage so what we're going to do is we're going to send this information okay it's through a data furniture to a system called e oscar eos gonna take that late payment and send to the credit bureaus to electronically put a late payment on the bureaus that they report to okay so it's not like the creditor like navy fiddle goes hey hey equifax um john smith has got a light payment can you mark it down it's all done electronically okay so boom the oscar system reports the data now what you have to know is they also have the software right because i don't wanna hear right oh i got people calling me saying hey i reached out to the creditor to get remove uh this late payment off my credit and they told me i had to reach out to credit bureaus that is false if they have the data to add a late payment on your credit they also have the data to remove a late payment from your credit okay so i don't hear bs you need to say look you are the data furniture of this you just contacted the credit bureaus to say hey put this late payment on you also have the capability right they're lazy that's the thing they don't want to do it they tell oh they brush it off on the credit bureaus oh you got to contact the credit bureaus no but remember what i told you guys before everybody just went through this and that's why i'm asking you put that five-letter word in there everybody went through this and what you are dealing with is humans and when you can deal with a human who went through a situation a pandemic a life crisis people lost their job 43 million small businesses went out of work 17 million people sent home without an opportunity to even make another dollar because they had to be laid off okay and countless people who didn't know where their next move was going to come from and how they were going to get finances when you know that you also know that people are human and they have a heart so i'm asking you to do this there's two ways to remove late payments one you can contact the creditor not the credit bureaus okay and you can use first of all just use your behavior which i say collect more bees with honey when i tell you guys that you would contact the creditor and say and i'm telling you this is where the sympathy comes out i just went through a very tough time i was laid off i lost my job haven't been able to find any work i know that i got a late payment on my navy federal credit card i'm asking that you guys would please remove the late payment from my credit report as i'm going through a tough time with myself and my family and i wasn't able to make the payment i do apologize it'll never happen again i love your credit card i love the opportunity to be part of this navy federal rewards card but i made a mistake i'm asking your forgiveness if you could please this is holding me back from getting my home renovating my house whatever xxx your chances of doing this getting it removed are very very high now what i also want to do is i want you to follow that up with a letter known as a hardship letter okay so a hardship letter that you can find inside my credit game okay you guys can name my programs i have the hardship letter in there but you have to know this if you try to google this letter okay what happens is this your letter that you are going to mail out to the creditor not the credit bureaus this letter called the hardship letter goes right to the credit a person who added the late payment on your credit report the one who sent it to the credit bureaus you need to send them a hardship letter but first you have to understand that when you send that letter your letter is converted into a two-digit number from 26 to 89. the letters that i have inside the credit game are proprietary letters that give you the highest number the 26 letters most people aren't reading they're cookie cutter letters okay the 89s are getting attention the higher the number the more attention the letter is going to get and telling you something the more likely the late payment will come off this letter is designed for people like you like me and everybody else in the world just went through a very hard time and it is specifically indicated in there about this hardship that i'm talking about we have had members and our students get countless removals of late payments off the credit bureaus because of these letters these are not letters that you can find anywhere okay so that is one way that you can get a late payment off your credit board okay the second way is part of my program in order to get in the credit game i am going to pay for you to have elite credit repair done now because it is software and it is not done by letters it is done much faster it is done electronically it's done what we call 2021 versus 2010 okay everything was done by letters now there's actual software the thing about a professional that i can't do camera guy ain't doing credit pair company ain't doing is we don't have the software to be able to go in okay it's a 400 000 software i mean you could get it and i could get it if i wanted it but i don't want it to go in to be able to essentially put in codes and know they know what exactly inaccurate absolutely unfair erroneous uh incorrect information to look for to not only get the information corrected on your credit report you don't want it corrected because then if they go in and just correct the information you still have a late payment or you still have a collection but actually challenge the validity of the account so it comes off completely instead of just being corrected so that's what you want you want the entire now if you're using the account and you have a lot of if it's a negative account not supposed to be there okay maybe you're a victim maybe you um don't hey nobody can tell me that this is my account only i know right here whether it's my account or not so what the software can do and the person behind the software is can go and challenge the information and say hey my client believes that this is an inaccurate information and it's not supposed to be on the credit report and whatever code they type in if it is something that's not supposed to be on the credit report it is eliminated now what that means is the entire account will come off so if it is something you're using and i only mean credit cards i'm not talking about a vehicle or home i'm not talking about that i'm talking about a uh credit card what you don't want to go in to challenge the validity of account and say hey i don't believe it's my because then what's going to happen is the credit card can actually be shut down they're not going to come take your car and they're not going to come take your house but they can shut a credit card down okay if you're challenging the validity of the account so what they will do is actually go in and challenge it on that end there's two ways guys this is not something that's like like a super secret you can either do it the letter ways okay and have a hardship done by making the phone call and sending the letter certified mail okay or two you can have the professionals do it that's it you do it yourself or professionals do it there's no such thing as just eliminating it by just i believe it's going to be removed i believe it's going to be removed weeds go away weeds go away weeds and all once the weeds are gone it doesn't work that way there's action has to take place and again it can be done by my vendor who has the software or you get into credit game and you get the highest number letter the proprietary letter that will help you get it removed the fastest with watching this video and making the phone call first then following it up now here's the kicker if you're going to go the option of sending the letter okay get in the credit game you're like i wanna do it myself just make sure that when you call the creditor that you get them to send you something in email or in mail saying that they agree to what you're telling so if you've got someone on there and you're simp your sympathy is like hey i'm sorry i apologize this will never happen again i i just hardship this that boom boom not going to say the word you're going to put in the comments lost my job don't know where i'm going um would you please send me an email or mail me out a letter to this address xxx stating that per our conversation you will remove this late payment to help me out the reason you want to get that is because the last thing you want to do is have them tell you over the phone and then it doesn't get removed when you have the letter or you have the uh email now if it doesn't get removed then you can go to the credit bureaus and legally the creditor said they were going to remove it because it's in writing and now you can go to the credit bureaus and actually have it removed asap because you have it followed up by some documentation coming from the creditor itself so you always want to make sure that you have the letter email and make sure you get that while you're on the phone so okay but i also want you to follow it up with that certified mail straight to the creditor called the hardship letter this is a double impact it's the phone call and then the next day the letter's going out following up the phone call okay this is it no simple trick guys i mean this is this is not like rocket science this is what you need to do to remove late payments let me tell you something if you have late payments on your credit report your score is impacted tremendously just know that it's going to be there for the next six years if it doesn't come off sorry it's gonna be there for seven years i wanted to add an extra i wanted to make you feel good for a second seven years seven years guys you try to buy a house try to get a car try to get a credit card with a fresh brand new late payment which is the biggest impact your credit score a but number two how does that look to a lender i don't care if it's a car lender a mortgage company or a credit card how does it look to have a brand new spanking late payment on your credit report good luck trying to get credit cards good luck trying to buy a house with a brand new life handle on there they're just not doing it guys lenders are looking to make sure that you are responsible the good news is this there is hope there is hope for you to be able to get things you want in your life but you can't lay payments on there cam collections on there so if you're somebody that has late payments collections you're like look my i might i i want the credit game because i want the proprietary letters and everything else that's in there on top of it you think this is good you should see the stuff i have on trade lines and and inquiries i want that but i also told you this as part of this what i'm doing for you guys today is i'm also including the vendor to do the work for you okay so that's like my gift back to someone because i was fortunate enough to be able to put the credit game together for me and i didn't have a leak credit card i went from a 515 to an 829 credit score today and i never went through the elite credit pair because i wasn't available then today new age you have so many opportunities to have great credit instead of having bad credit you have an opportunity it's not like it's not like a pipe dream for you guys to be able to have a house it is like people come to me and they say i want to buy a house i would love to start you know my real estate company i would love to you know get a home i want these things but you believe it's not possible because you've lived with bad credit your whole life i'm here to tell you this it is extremely possible but you have to take action nobody is going to take action but you i can't make you do something only thing i can do is i can give you the facts i can give you the benefits i can give you the motivation but i'm not going to be the one who's going into your credit report for you and i'm not going to be the one who calls i 904-427-7772 can't call for you you have to call to get your credit fixed that's it that's the only way it's going to happen or as a legal right of yourself you can certainly do all this yourself just understand as a consumer when you have the legal right to do anything you want just understand that the time is what you're going to be wasting professionals can do it in one tenth of the time so again you could do it but if you want to get a car a house credit cards or things that you want to do so you can be an adult people can look up to you and go you know man this all this dude's awesome man he's got a 750. like people can't look up to you at a 500. i mean you walk around and you got a wife you got a husband you got family kids people have to look up to you and i believe as an adult it's your responsibility obligation duty to have a high credit score to have your finances in order so people can look up to you so you can be a hero in order to do that you gotta take action so i'm asking you this if you want the help i will help you if you don't want the help don't call me continue to live with bad credit watch the videos i have people call me like watch the videos for a year like i've watched your videos for a whole year i'm ready to make a move i said a year you've been waiting what took you a year after watching my videos to call man i just i thought i could do it myself look i i put valuable content out on these these these videos right and i want you to be able to do some of it but there's a certain level of you can't do everything right like people do videos on you know how to put a roof on and how to fix your engine in your vehicle when it breaks down but at some level you're going to bring it to mechanic at some level you're going to hire a roofer right because you can't do everything yourself that's why there's professionals in that that's why they have software that's why they know what to put so if you want to fix your credit i'm including the elite credit pair for you that's my gift today for the people that call in as our valentine's day special that i've it like extended because we weren't open yesterday you guys all the programs i'm gonna leave you with this husband wife boyfriend girlfriend couple i don't care what you are you guys are getting half off today i'm going to leave you with this if there's no better time than right now to do it the next deal that i'm doing is black friday where it'll be that low as it is right now so right after this video if you want the help let me help you change your life you'll get the elite credit repair i'm included now for you in any of my programs and you're going to get all the proprietary information i showed you in the credit game which has helped me raise my credit score 375 points 904-420-7772 this is how you remove late payments and how the score dramatically decreases and increases when those come back on i'll talk to you guys in a few minutes 904-420-7772 call me now first couple people are getting this included in it i'll talk to you in a minute my name is mike from the credit game let's roll you

Channel: The Credit Game

Views: 21,890

Keywords: How Removing Late Payments Can Increase Your Credit Score Fast, how to remove late payments, how late payments affect your credit score, how to increase your credit score, how to increase your credit score by removing late payments, credit score, late payments on credit report, credit report, how to remove late payments from credit report, credit game, remove late payments fast

Id: Ft4dKiLNh-A

Length: 28min 19sec (1699 seconds)

Published: Mon Feb 15 2021