@Anonymous wrote:
I got a negative report on my credit from a student loan I had set up on auto draft. I might be lucky in that I signed up for some classes that threw the loan in deferment for that month. But anyway, it got me thinking... Is this bill actually 30 days late??
Bill was due 2/15. Logged on to pay 2/20 and the website encouraged me to set up an auto draft. I authorized it.
Payment was taken out on 3/3 because they only draft the 1st or 15th, but applied to the March bill unbeknownst to me.
Again, March payment due 3/15. Auto draft take on 4/1 and applied to April. Then, they started charging me $5 late fees each month because of the "missed" February payment.
This goes on until I finally checked a bill last week that read my auto drafts were insufficient. I now have a $14 30 day late on my account for June.
So, it seems to me that each month was 15ish days late. Not ideal, but I never missed the payment by 30 days. If they don't stick to their word and use my deferment to take off the negative, could I use this as a dispute?
On the surface it looks like it was not, you would need to read the terms of the loan to see how they apply payments as some would apply it to current before any back ones that may be owed. You may be able to use it as a dispute would just depend on how the terms are worded.
