Help me understand how this reporting works!!!

[Anonymous]

Hi! I'm very confused.

If my, say, May payment, due May 1, was received June 18 - 48 days late - should they be reporting May as over 30 days?

Or if on May 1, March and April were still owing, do they report May as over 60 days?

Or does the creditor get to decide how to report it?

Thanks for any help.

[Anonymous]

Hey Likewise.

Due May 1 received June 18 is 30 days late, next would be 60 days but not 48. I think they all use 30,60,90,120

But NEVER EVER go 90 or your credit life is over for a long long time.

[Anonymous]

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Due May 1 received June 18 is 30 days late, next would be 60 days but not 48. I think they all use 30,60,90,120

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So do they report May as 30, or do they report June as 30? Seemed obvious to me till I started checking dates received on their payment history and it looks like they are reporting it worse than what it was.

[RobertEG]

Dont look at billing date, look only at the due date for the billing statement.  An account goes 30-late if not paid within 30 days of the statement due date.  So if a bill is paid, even though late, within 29 days of the due date, it wont be reported to the CRA as a 30-day late.  Late fees will be asssesed, but not reported to the CRA if brought back current within that 29 days.