Late Payments

[TryingVeryHard]

I hope you can help me. I am trying to figure out if this is worth dealing with or to just let it go.

I was making agreed automatic payments with Amex from 08/2014 to 05/2015 They want me to make full payments. I was unable to I only agreed to pay $650/month. I was able to consistently do it until it account reached zero balance. Amex reopened the account for me with new credit line.

Amex did not start reporting me late until it hit the 120 day late Mark. So it shows I was NOT LATE on months when I was actually late, BUT now it also shows I am late on some months when in fact my statements show I have zero balance already.

It like “delayed” by 2 months. Is this usual and customary, or is this considered inaccurate information.

Is Amex obligated to report the right amount or the right month?

Thank you.

[Anonymous]

Contact customer service, have your statements ready, and ask. If the outcome is not in your favor then write to the executive office and ask again. If again not going your way, send copies of the statements to the credit reporting agencies and dispute.

[Anonymous]

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wrote:
I hope you can help me. I am trying to figure out if this is worth dealing with or to just let it go.

I was making agreed automatic payments with Amex from 08/2014 to 05/2015 They want me to make full payments. I was unable to I only agreed to pay $650/month. I was able to consistently do it until it account reached zero balance. Amex reopened the account for me with new credit line.

Amex did not start reporting me late until it hit the 120 day late Mark. So it shows I was NOT LATE on months when I was actually late, BUT now it also shows I am late on some months when in fact my statements show I have zero balance already.

It like “delayed” by 2 months. Is this usual and customary, or is this considered inaccurate information.

Is Amex obligated to report the right amount or the right month?

Thank you.

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Sometimes creditors don’t report late payments until they cross a threshold. Say 90 or 120 days late. That actually helps you more than hurts you. If you were late, then it is correct. If you disputed they could add late payments for your effort. And count all the lates. Only time they are ibligsted to change is if they say you are late in a month you weren’t. They update just once a month. So sometimes things take a while to report.

[RobertEG]

Creditors can choose not to report lower levels of delinquency, and begin reporting at, for example, 90-late.

However, what they do report cannot knowingly be inaccurate, and thus if the account is only 60-late at that point, or is not delinquent at all, then the reporting is inaccurate and can be disputed.

I would not dispute lack of reporting of lower levels of delinquency, but you can dispute the accuracy of any reporting that does not accurately reflect the actual delinquency..  However, as discussed previoulsly, disputes over level of delinquency for any month often result in the creditor updating their profile to include each and every delinquency, so I would not necessarily recommend disputing unless it is overstating the level of delinquency, and that over-stating is respect to the current level of delinquency as opposed to prior delinquency levels that have now been superceded.