I need some help with Associated Bank. I opened a construction loan with them in July and had an issue with last month's payment. During the construction process, the loan is interest only. The first month (August) I paid a certain amount and at the beginning of the second month, I paid the same amount. But there was a draw of funds in August that caused the payment amount to increase. I received a notice of underpayment late in the month; the letter was generated on the 17th but I did not receive it until a week later because our mail is being forwarded from the construction address to a rental. I called in to rectify the situation (and I also updated my mailing address) but I apparently gave the wrong account number and the transaction did not go through. Yesterday, I receive a letter stating that my account is 32 days past due. I called and set up a payment with the correct amount but they say that they've reported me 30 days delinquent to the credit agencies. I spoke with a collections supervisor and he said that they only withdraw the report if there was an error on their part. I have filed a formal complaint but I don't know if that will yield any results.
I really don't know what to do. I haven't had a late payment in over 3 years and 30 days late on a mortgage is bad :-(. I can provide evidence that my bank account had way more than enough cover the transaction for several weeks.
Does anyone have any suggestions? At this point I am open to anything. Having a new late payment on my credit report would be catastrophic for me and ruin all of the hard work that I have put in restoring my credit.
Thanks
