Chase credit card late payment doesn't go away
Q: I had a Chase credit card payment that was 60 days late almost six years ago. I have not been late since that time and always have paid at least the minimal amount required. I have written Chase three times within a year, asking them to remove the negative information from the credit reporting agencies but Chase has refused. I find this very appalling since bankruptcy is forgiven and removed after seven years. Do I have to wait the seven years? I am so frustrated that I want to close the credit card and open a new one with another institution
A: Yes, unfortunately it is the case, 7 years. It does not do much harm if any at all, to your credit scores at this point, even a 60-day late. Chase has every right to keep reporting such late payment, in spite of you having the credit card in good standing and using it.
Chapter 7 Bankruptcy stays on a credit report for 10 years, not 7. I would not close this credit card. It will fall off you reports in a little over a year. It is a good established account, and once Chase stops reporting the 60-day late, your credit will be totally fine.
Mon Mar 21, 2011 01:03PM | Copyright: www.bad-credit-advisor.com | More in Credit Report Dispute | Comments (0)
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