Rebuilding Your Credit

[AutumnC74]

Have had lots of positives and scores are 649 EQ and 678 TU from myfico. My car loan matured and although I paid the payment on time, I did not pay the full balance remaining within 30 days thinking there was leeway. I paid half the balance on day 33 and will pay the remainder on day 47. This will probably destroy my hard work in one simple misunderstanding. There were extenuating circumstances, namely car trouble and a family death and travel expenses related to that - we were out of town for the funeral on day 30 (Sunday) and day 31 as well as day 32. My chances at home ownership have probably been blown and I am so upset with MYSELF.

[LondonMassey]

How long have you had your car payment? No other issues? When do you plan to buy?

See if you can get them to goodwill the late by explaining the circumstances and your situation.

[AutumnC74]

Was planning on applying this week but loan officer suggests waiting to see how it will report. As of now, it has not reported... I have one other late in Decemver 2009 and the note was 48 months.

[pizzadude]

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AutumnC74 wrote:
Was planning on applying this week but loan officer suggests waiting to see how it will report. As of now, it has not reported... I have one other late in Decemver 2009 and the note was 48 months.

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I would go ahead and write a compelling goodwill letter just in case they do decide to report you as paying late.   Hang on to it just in case the lates show up.    It's possible that they might cut you some slack....

[AutumnC74]

Do you think I should try to email it to someone before reporting even occurs? Or maybe contact the Main branch of the bank?

[AutumnC74]

This bank is the owner of the mortgage company I want to apply with

[pizzadude]

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AutumnC74 wrote:
Do you think I should try to email it to someone before reporting even occurs? Or maybe contact the Main branch of the bank?

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It might not hurt to be proactive ~ you could call them and inquire about how they report lates.....explain the situation and ask nicely for some goodwill.    If that fails then start with the emails and/or letters.

[AutumnC74]

So I took the proactive route and called the bank... With this simple phone call they shared that they fixed my account so that it would not report late. What a blessing... In other credit news a dispute with Sallie Mae over a late payment (90 days) last October may end favorably for me. This removal will be another blessing for me... ")

[annielorie]

sorry about your loss, but glad the bank is not a complete<?{

[AutumnC74]

Me too... And thank you... The bank was very helpful and understanding...