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A derogatory item is considered negative, and typically indicates a serious delinquency or late payments. Derogatory items represent significant credit risk to lenders, and therefore are likely to have a substantial effect on your ability to obtain new credit or services.

Letters of explanation addressing these issues should include: An explanation of the negative event. The date it happened. The name of the creditor. Your account number. Your signature and date (if typed or hand-written)

Dear [recipient's name], I write to you today in response to a letter I received from you, dated [insert date], about [insert number] of late payments on my loan from [insert date to date]. I am writing this letter today to explain to you the reasons for my delay.

The basic premise of this explanation letter is to address: The situation you were in which caused you to pay late was beyond your control. The situation has changed and your financial footing is solid again. The steps you are taking to make sure any future challenge will not impact your ability to pay.

Connecticut is a thriving center of business, as well as a vacation land. It is both a New England state, and neighbor to New York City and Boston. Nickname/Official Designation: "The Constitution State" was adopted by Act of the Legislature, 1959.

Rule 7.1. A lawyer shall not make a false or misleading communication about the lawyer or the lawyer's services. A communication is false or misleading if it contains a material misrepresentation of fact or law, or omits a fact necessary to make the statement considered as a whole not materially misleading.