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03-17-2017 10:54 AM
What can I do if a creditor is reporting something as 30-days late when they should not?
My Feb 1st Citimortgage payment was made what I believe to be 28 days late. It was made March 1st, and depending on how you count, since February had only 28 days this year, it is either 28 or 29 days late. Citimortgage says that even though it was not literally 30 days late, "it is still reportable "because February is a short month". So I wanted to first once again clarify tha the CRA says that 30 days means Calendar Days from due date, not "1-month", or "1 billing cycle" or even "1 interest calculation period".
If I am correct, I am still left wondering where to turn. Apparently very few people escalate a single 30-day late. For me, since I have never had even 1 late payment reported in 23 years of credit being reported, it has devastated my credit score. I know everything is relative, but fair is fair, and legal is legal. So If I am correct, I am hoping to find a legitmate attorney who could get this situation corrected for me, even if it means a suit against Citimortgage.
Thanks you so much for any insight or assistance you can provide.
03-17-2017 11:43 AM
It is calender days.
I would call Citi and ask them why they reported you 30 days late, when you were 29 days late. If there are terms that make payment processing at midnight the following day, I believe you are SOL because that would be 30 days. Depends on timing/posting rules for Citimortgage.
Ask to speak to someone higher up and explain why you were so late and ask if you can have the late removed as a courtesy.
|EX08 659||EQ08 660||TU08 695||Starting: mid 300's||Goal: 700|
03-17-2017 11:43 AM - edited 03-18-2017 11:51 AM
File a dispute with the CRA, citing their policy as set forth in their credit reporting manual, the "Credit Reporting Resource Guide," that a 30-late must be at least 30 days or more after the billing due date.
03-17-2017 01:26 PM
File a dispute with the CRA, citing their policy as set forth in their credit reporting manual, the "Credit Reporting Resource Guide," that a 30-late must be at least 30 days for more after the billing due date.
30 days late from February 1, 2017 is midnight March 2, 2017. That's why I said she needs to make sure that her payment should have been posted by 11:59pm on March 1st, prior to disputing/filing suit.
Since that is probably the case here, but she has an impeccible history and likely a special circumstance - I would STRONGLY push to talking to Citimortgage before taking any sort of combative action.
|EX08 659||EQ08 660||TU08 695||Starting: mid 300's||Goal: 700|
03-18-2017 09:55 AM
Citi (mortgage) use to post on their website (mortgage) that a payment made online (their website) would take up to 2 business days to post.
If the payment is being sent from a different bank, once it is recieved it could take up to 2 business days to post.
If the OP made the payment after the "business day" ended (as posted on the Citi mortgage website), it would be considered being made the next day and would take up to 2 business days (from the next day) to post.
Theorizing...if OP made a payment at 7pm on March 1, on the Citi mortgage website, Citi would acknowledge a payment being made on March 2, but it could take up to 2 business days (March 2 & March 3) before it's credited to the account. It would be backdated to March 2.
If Citi's automated data pulling system pulled the data, looked at OP's account on March 2, at 1 am, it would see that no payment had been made, thus making it a 30 day late, and report it.
I was royally screwed over by Citi mortgage. I have NO love for them. They pulled all kinds of sh*t when posting my payments made from their website, sent from my primary bank, and wired in (like a real bank wire that costs $25 to do). The only nice thing I have to say about Citi is "Good bye." (I paid off my mortgage when they started messing with my extra principle pymts. Citi did NOT like that I paid off my mortgage in 3 months, but hey, they really did me wrong.)
OP - you can call and ask nicely for them to remove the 30 day late. Let us know if they do remove it.
03-18-2017 01:31 PM - edited 03-18-2017 02:52 PM
Thirty days from Feb. 1 is March 3rd.
They acknowledge payment on March 2nd.
Neither the 2nd nor the 3rd are holidays nor non-business days.
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