Will Capital One Remove Late Payments (& How Do You Get Them Removed)?

Last Updated: Nov 15, 2022

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If you notice a late payment remark on your credit report by Capital One, you will need to act with haste to remove it from your credit report.

When consumers are late with their obligated payments, creditors may report this to credit bureaus. Once reported to a credit bureau, the derogatory remark will appear on your credit report, negatively impacting your credit score for 7 years.

Will Capital One Report Late Payments?

Capital One is subject to the same Fair Credit Reporting Act regulations as other creditors. Capital One may report late payments to credit bureaus as the creditor. Whether Capital One will remove late payments will depend on:

  • The amount outstanding,
  • The loan time frame, and
  • Verifiability of the debt.

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How Can You Remove Late Payments From Your Credit Report?

When attempting to have Capital One remove a late payments remark a consumer may attempt the following:

  • Dispute The Accuracy Of The Debt: You have the right to dispute items listed on your credit report. This is done by issuing dispute letters to the creditor like Capital One, or credit bureaus like TransUnion.
  • Send A Goodwill Letter: Goodwill letters can be used to explain your circumstance and request consideration be afforded to your repayment schedule. This is best for when you have an existing good credit history. Creditors aren’t obliged to accept this request, however Capital One is likely to assist if you have been a loyal customer in the past.
  • Negotiate Deletion For Payment: You may negotiate a settlement. If your expenses exceed your income and making the necessary payments is unlikely, inform your creditor and negotiate a settlement to have the debt deleted permanently.
  • Consult A Credit Repair Specialist: The process of reviewing your credit report and following up with the required procedures to ensure your credit score improves is a time consuming task. Consulting a credit repair specialist like Credit Sage affords you the assurance that the journey to your best possible credit score has begun.

Bottom Line

Once you identify late payments listed on your credit report it is important to act fast to try to have them removed. If Capital One has listed the remark you may attempt one of the methods outlined above. Capital One will consider the removal of the late payment reporting if an agreement can be concluded with the consumer.

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