Negative marks can't be reversed unless there's an error in Possible's report.
Possible is bound by federal regulation to report accurate information. If there was an error in our system that prevented your payment from being made on time, we are happy to amend the reports.
Unfortunately, if your loan payments were late without error on our end, we can't go back and report them as on time.
Possible offers customers a 29-day grace period (from their originally scheduled payment date) in which their payments are still considered on time. Once a payment has exceeded that grace period, it is considered late by TransUnion and Experian, the two major credit bureaus we report to. Increasingly negative marks will appear at 60 days past due, 90 days past due and so on.
NOTE: Possible considers late payments as 14 days past the originally selected dates. Credit bureaus consider late payments as 30 days past the originally selected dates. Originally selected dates refer to the payment dates you accepted in your loan agreement.
We recommend settling your outstanding debt as soon as possible so we can report your loan as closed or paid off!
The good news is, loans in any state (late, default, or charged off) can still be reported as closed or paid off.
This will stop further damage to your credit score, however, negative marks previously incurred can't be reversed.