Negative marks can't be reversed unless there's an error in our report.
We are bound by federal regulation to report accurate information. If there's been an error in our system, we are happy to amend the reports.
Unfortunately, if your loan payments were late we can't go back and report them as on time.
Our customers have a 29 day grace period to update their payment dates.
Once a payment date is past the grace period, it is considered late by the credit bureaus. 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. The 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.