Pros And Cons Of Late Payment Letters (& When A Dispute Is Better)

Learn the pros & cons of a late payment letter. Also, learn how to rebuild your credit if a late payment letter doesn't work & how Credit Glory can help.

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A late payment letter can help when you're running behind on a payment. Unfortunately, there are no guarantees they will work. If any info is reported inaccurately, then a dispute is the better option. If you need help with a dispute, an expert like Credit Glory makes it simple!

What you need to know about late payment letters

Late payment letters are one way to try to fix negative info on your credit report. If you miss a payment, you can write a late payment letter asking the creditor to remove it. The problem? Late payment letters don't always work. Luckily, you may have other options for removal — & a credit repair expert (like Credit Glory) can help!

When is a late payment letter the best choice for you (& when you should dispute)

Before writing a late payment letter, be sure to consider the pros and the cons. What are the alternatives to a late payment letter? If the cons outweigh the pros for your situation (& the info is reported inaccurately), a dispute may be a better choice.

Sometimes though, there are no alternatives to a late payment letter. If that's the case, focusing on the future and rebuilding credit is the smart move. If a late payment letter won't work, a credit repair expert (like Credit Glory) makes it easier to dispute inaccurate info.

Writing Late Payment Letters — The Pros

Here are some benefits when opting for a late payment letter:

  • May remove an accidental late payment - If your creditor accepts your letter, they may remove the negative item.
  • A good one-time option - If you haven't ever used a late payment letter with a creditor before, it's a good choice.
  • Potentially raises your score - If your late payment letter is accepted, your score improves when the negative item disappears.

Writing Late Payment Letters — The Cons

Unfortunately, there are drawbacks to a late payment letter:

  • No guarantees - There are no guarantees a creditor will accept a late payment letter. Leaving you with a severely damaged credit score.
  • Not super easy to write - Writing a late payment letter involves finding a template (that actually works) and then finding the right thing to say. This can be a lot trickier than it sounds.

When should you dispute over a late payment letter?

There are two cases when you should dispute rather than write a late payment letter. What are they? If negative items are reported inaccurately, a dispute always trumps a late payment letter. The other is when you can't dispute the item you're writing the late payment letter for, but you want to work on rebuilding your credit.

How do you dispute inaccurate negative items? There are several ways, but identifying (& disputing) negative info is a great place to start. What's the easiest way to do that? Work with a credit repair expert — like Credit Glory — with proven disputing tactics (& high ratings).

Skip the late payment letter and dispute your inaccurate info with help from Credit Glory, today!

Disputing negative items on your credit report is hard work! It takes a lot of time, effort, organization, and follow up. The good news? Our team of credit repair professionals is here to simplify everything! Let your dedicated credit repair expert relieve you of the stress, hassle, and time needed to fight your inaccuracies and boost your credit score (FAST!)

Credit Glory is a credit repair company that empowers consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.

Call us at (855) 938-3044 or set up a consultation to get started, today!

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