Late payment shows up on credit report for seven years

Dear Bruce: A major lending company reported to one of the credit bureaus that I was late on my April 2016 payment. The credit bureau said I will have a negative mark on my credit report for seven years. The Fair Credit Act says this is OK? This is not a judgment. The account was closed this past November when I paid the last payment. I’m beyond angry and outraged by this action against me. — Sue

Dear Sue: Of all the things you have to get upset about in your life, why in the world are you worried about a negative mark on your credit report? You say the Fair Credit Reporting Act says it’s OK. Maybe it is, maybe it isn’t, but so what? It will disappear in a relatively short period of time. Unless you have been turned down for credit, what difference does it make?

I have to tell you that life is too short to be worried about a minor mark on your credit report. That being said, the only thing I can suggest you do is write to the credit bureau and provide it with proof of payment on the due date since this is important to you. That should clear it up.

Dear Bruce: What are your thoughts on the mass media censorship (Twitter, Facebook) of conservative voices that’s occurring today? It’s clear that informed debate is being taken away. I’d love to hear your thoughts on this. — Jeff

Dear Jeff: I suspect that there are all sorts of maneuvers being pulled off by Twitter, Facebook, etc. When you come right down to it, how much harm is being done, if any? Of all the things I have to concern myself with right now, this is one I don’t think requires great consideration. I think like anything else it will go away in time. People will get bored with these social media sites and move on to new ones.