DISCLAIMER: you are not going to like reading this blog ( just a forewarning)

You may have seen an internet advertisement on this, you may have seen this statement in a Facebook ad. Many times its labeled as “the Hidden Secret the creditors don’t want you to know about!”.

I even saw this “technique” listed in a “Legal credit repair” book written by “attorneys. What it basically says is that if you have good history with a bank/creditor then you can ask them for a one-time late payment forgiveness since you have been such a good client prior to the one little mishap.

They may tell you to say you were out of town during this or had a family emergency and have been out of town.

I checked several credit repair books in the stores before writing this blog and it seems they are all in there.



Perhaps about 10-20 years ago it worked and companies allowed it but now and for quite a while now they do not. This is the problem with the “credit repair” books out there. So much of it is what is called “fluff” or “filler content”. Designed to make the book bigger and give the impression there is more to it.

HOWEVER, there is a simple test for this. I assume if you’re reading this you are doing some research on credit due to you having some credit challenges currently or have in the past.


You’re another credit repair company/agent trying to learn how credit actually works (actually got a call one time from a credit sales person who said their boss said to read my site and info on my website). While im not crazy about that part I commend you on wanting to do the right thing by your clients.

Contact the lenders if you do not believe I am correct in this statement about this blog.

Most likely what will happen is the late payment will not be removed and you will get a letter from the creditor stating that after careful research it has been identified that the current reporting is correct and the Fair Credit Reporting Act Law will not allow them to change that information as it would be incorrect and thus against the law.

And then most likely in 30 days the late payment will still be there is you have a credit monitoring service but then get notified that your credit score increased!

Again…however this is what would or can be called a false positive in the credit world.

Check to see if the lender/bank now has your account marked as disputed.

Now for people out there thinking where there is a will there is a way there unfortunately isn’t.

So I do not mean to burst your bubble with this blog but more so I do not want you to waste your valuable time.

NOW, if you are reading this and you have a relationship with your bank and it is one of the really small/very local banks then there is a possibility of them doing that favor for you.

HERE is the little trick (so to speak) there is no law that requires the people reporting to the credit bureaus to actually report to them. They can choose not to report they just can’t report something that is incorrect.

Now if you are dealing with a really small lender or as mentioned before a really small community bank where you are on a first named basis with the president of the bank. You can sit down with them and ask them to omit the data for a few months that correlates to the bad reporting on your credit file.

Ex: A late payment in 4/2016 ask them to post no data from 1/2016 thru 6/2016.

Now they are in compliance with the law as well as you problem is solved.

The issue is this will work for maybe 2% of people who are lucky enough to be in the position I described above.

So while you can always try just understand that a good 98% of the time it will not work and the “secrets” in the books and advertisements are designed to get you to buy the product. It never hurts to try just be ready to undo the problem to your credit file that you caused by trying it.

And as a recap the problem it will cause is the bank marking their credit account with you as “disputed” which you will need to then go through the steps of having it removed.

Want to learn more about how the world of credit works? Contact me today and get my book in full blown color. No nonsense direct and easy to understand how the “Real world of credit” works. wayne@waynethecreditguy.com