In the last year my husband was hit by a drunk driver. This caused much financial hardship on us and because of this we had been late several times on our mortgage and vehicle payments. This hit our credit hard. Before his accident we had a perfect record and were always on time. Is it possible to have these hits on our credit removed though the individually companies?
Is it possible to have these hits on our credit removed though the individually companies?
Possible but highly, highly unlikely. You can always contact the individual creditors, although your pleas will probably fall upon deaf ears, unfortunately.
(I work in the loan department at a credit union)
Creditors won't remove derogatory credit, because although you were experiencing a financial hardship, they are only reporting what happened. Payments were late.
Most people forget to do when having financial difficultly (And I'm aware when a loved one is injured bills are the last thing on your mind) is to contact each lender and explain what is happening. Most lenders will empathize and if you have good/perfect pay history, they usually will be able to offer something in order to help keep you from being delinquent and ruining your credit.
If you are having difficultly getting new trade lines, IE new credit cards, home refinance, auto purchase etc, there are lenders out there who will be able to review your credit and will allow for explanation. Granted the interest rate will be determined by your score, you can still get new trade lines.
I would keep track of the police report, hospital bills, FMLA paperwork to show the chain of events, in the event a creditor wants proof of the hardship.
I hope this helps.