How  to repair credit after a missed payment

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After you've missed a payment, there are several steps you can take to repair your credit score and report.

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First, act fast and pay what you owe as soon as possible to avoid further damage to your credit score.

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Negotiate with your lender to see if they are willing to remove the missed payment from your credit report.

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Write a goodwill adjustment letter with why you could not pay and ask for the missed payment to be removed.

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If you have limited credit history or severely damaged credit, consider alternate ways to help build your credit up.

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This includes getting a secured credit card or a credit-builder loan to help you make efforts to fix your credit.

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If you find an incorrect or old late payment on your report, file a dispute with the credit bureau to have it removed.

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It is important to take action to repair your credit after a missed payment to avoid further damage to your credit score.

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Stay on top of your bills and make sure to pay them on time. You can also automate payments so you don't miss them.

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