Hello, I'm new, I've heard some great advice on this site, hope you guys can help. I opened a First Premier account about 2.5 years ago, I was never late and had increased my credit limit from 250.00 to 1250 but........I let a family member use my card and they used my card and made it go over the limit and never sent any payments. I found out in august when my credit was ran to try to purchase a loan and there was a late payment on my credit report for July 2008. I have been making payments but stopped making payments per the advice of a friend and sent equifax, tu, and experian a dispute letter asking them to delete the account because of it's inaccuracy, I stated it was inaccurate because the are reporting me late on a CLOSED ACCOUNT, how can I be late on a closed account?? I have tried to call first premier and offered to pay the account in full if they delete the late payment, they've refused stating they don't do that. Did I do the right thing?? Please advise.
Your friend gave you bad advice. That's a sure fire way to have more late payments on your credit report. I wouldn't have closed the account, because that one random late (assuming you start paying and don't get anymore), will hurt you very little within a year or so.
