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Hi, Idk where to post this but I have some questions to ask about my Synchrony payment plans. Well I am in a payment plan with synchrony bank and citi bank as well as NFCU. I lost my job because Im going thru some health issues and need a few surgeries for cochlear implants. Anyway I noticed that when my statment cuts and reports to the CB it still keeps giving me 30 day lates every single month. Ive been on the plans for 3 months already. I get an alert saying the account is showing current and then a week later I get another alert saying delinquent with a 30 day late. I am not sure why I am getting these if I am making payments that were set for me thru synch for the payment plans. Citi and NFCU havent updated yet as I have just started the Payment plans last week with them. Is this going to keep happening until the cards are paid off? Or something I can guess that a years worth of 30 day lates look bad but also it shows the balance is decreasing too. So I gain points for that but then lose them when the new 30 day late hits. I am sorry this is so long but any help would be appreciated. Thank you in advance
If you became delinquent on your original account agreement, you remain delinquent until you have paid back the entire delinquency.
Technically, they can continue to report continued and/or increased delinquency until the entire delinquency is repaid.
However, some repayment agreements include language that the creditor will cease reporting of additional account delinquencies provided that the consumer continues to comply with the terms of the repayment agreement.
Does your repayment agreement include any such stipulations?
none of them had that agreement in them about reporting. I even asked and they said that they are not sure how or if it will report at all. The only thing that shows is the balance decreasing but I am continuously marked late. Cap 1 did the same thing and continues to mark me late until the past due amount owed is paid they said. I guess I have to deal with the damage for 7 + years. Its making me feel horrible. Its not my fault this happened I didnt know I would get sick but I am trying but as long as these lates are continuing I look worse. And even my creditors who didnt have any lates or deliquencies are closing my accounts. I guess credit should be far from my mind for the next few years