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My boyfriend had horrible credit, so we bought a living room set with my credit, but when we broke up he decided to stop paying on it (even though he kept the couches) and I didn't realize till 90 days later when I got a notice that my credit score went down from 780 to 680.

I threatened my ex into paying the remaining $900 the very next day and he did pay the whole thing off. I then called Synchrony and tried asking them to retract the late infraction since I've always had stellar credit history and this was just a one-time incident that is now ruining my credit, but they refused.

Is there any other way that I could fix this?

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Unfortunately, the late payment is a fact in your credit history, and neither the bank nor the credit reporting agencies will likely remove it upon request. (It appears from your question that you have already asked.)

The late payment will fall off the credit report in seven years.

Before then, as time goes on and you pay your bills on time, this one late payment will become less significant on your credit score.

One thing you can do before then, if you want, is to write a letter of explanation. This is a 100-word-maximum statement that will be attached to your credit report. In it, you are allowed to explain any negative items on your credit report in any way you see fit. It will not affect your credit score at all, but if a future lender looks at your report, they might read your explanation.

However, I've read different opinions as to whether or not such a letter can actually help. In your case, saying "I applied for credit for someone else, and he stopped paying" doesn't sound to me like a story that would reassure a lender that it won't happen again, unless perhaps you also say that "I realize now that cosigning for someone else is stupid, and I will never do that again." You might be better off just leaving it alone, learning your lesson (never cosign or buy something on credit for anyone), and waiting for the score to improve on its own.

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You very well may be out of luck, typically the goodwill/forgiveness of the creditor is your only chance of getting it removed unless there are errors in their reporting.

I suggest writing a letter even though they weren't responsive on your phone call. Here's an article on how to Appeal to Creditors With Goodwill Letter to Remove Late Payment. I'm sure there are other good examples out there, I have no idea what the success rate of such a request is.

protected by Dheer Oct 25 '17 at 16:26

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