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If you have defaulted on making your payment, here are a few ways in which you can get your late payment record taken care of. Ask for a goodwill adjustment. ... Set up automatic payments. ... Make a partial payment. ... Pay off the complete outstanding balance.
What should a late payment letter include? your company name and address. recipient's name and address. today's date. a clear reference and/or any account reference numbers. the amount outstanding. original payment due date. a brief explanation that no payment has been received.
Finally, if you do incur a late fee, try to negotiate with the business. Many businesses are willing to waive late fees if you explain your situation and offer to make a payment as soon as possible. Late fees can be annoying, but they're often necessary for businesses to recoup the costs of late payments.
If you find a late payment in your credit reports that shouldn't be there, you can file a dispute and ask the corresponding creditor or credit bureau to remove the inaccurate information.