30 Day Late Dillema

[MarcinXP]

So I have this dillema...I have a 30 day late from on an Auto Loan in June. This was because I was late almost 18 days after the 30 day so this is legit. Had a rough month and couldn't make a timely payment. I'm not disputing it as of course it's valid. I called twice and of course I was told we report fairly and accurately. I've heard that this particular Auto Loan company is real stickler on this and nobody has really succeeded with a GW. Before proceeding further here is my dillema. I was actually late 3 times. 2 previous months it was 34 and 32 days but they are reporting that as on time...Thanks God...should I just forget doing a GW on this higher up since if someone does look at this they can do 3-30 day lates and just move on..take my licking and hope score improves with time..2 years+ or proceed further and hope they don't catch it....question is if they do and mark it 3 months 30 days...will my score go even down further??? or will it stay about the same. It just kills me that I have 5 more payments to go and I'm done...4.5 years of perfect payment history on that Auto Loan and there is no forgiveness program..LOL 

[RobertEG]

Upon what dates are you basing the use of the terms "30-days late?"

The terminology "30-days late" can have very different meaning, depending upon whether you are referring to being 30-days late from the due date set by a credtior in their billing statement, thus making your payment delinquent, or whether you are talking about a a delinquency being reportable to a CRA as a "30-day late."

A delinquency is NOT reportable as a 30-day late to the CRA simply because it has become delinquent with the OC.  30-day lates as used in the credit reporting lexicon refers to being 30-days past the DUE DATE set in your billing statement.  You can be deliquent on, for example, a payment due on 10/1/2011, but that would not become a reportable 30-day late to the CRA until after 11/1/2011.

Can you clarify the dates at issue?

[MarcinXP]

Sure Robert..

Due Date April 12th - I paid on May 13th..so technically 1 day after 30 days from due date

Due Date May 12th - I paid on June 18th. Almost day 6 after 30...so 36th day

Due Date June 12th - I paid on August 1st. This is almost 48 days after due date and this one is being reported as 30 days late.

MInd you I got the car in January 2007 and paid every single time ON TIME...sometimes I would stretch 10 days after due date but on the statement it showed that as long I pay it before 22nd it would be same price...if after 22nd..it would be like 25 dollars more.

I think I should count myself lucky that I have 1 30 Day late and move on....better this than 3 30 Day lates back to back. 

[jasimae]

I think you should count your blessings and just let it be.  You were late, you know you were late.  Deal with it.  Being on time for any amount of time is not an excuse or makes it ok to be late any other time.  Especially given the fact that you were 30 days late 3 months in a row.  You are very lucky that they aren't reporting each of the 30 day lates and might want to stop barking up that tree before an antsy underwriter notices this and decides "hey, this account isn't reporting accurately."  Just try to maintain ontime payments going forward.  The effect of the 30 day lates is diminished as time goes on, but you have to take the hit.  I'ts a consequence of your action.