topic Re: Late Payment Reported After Account Closed in General Credit Topics

Late Payment Reported After Account Closed

Anonymous — Wed, 12 Jul 2017 11:15:57 GMT

I have a Kohls card that was closed in February. In March they reported me late. Can they report lates after the account is closed?

Re: Late Payment Reported After Account Closed

UpperNwGuy — Wed, 12 Jul 2017 11:20:38 GMT

Yes, they can, and they will.

Re: Late Payment Reported After Account Closed

AverageJoesCredit — Wed, 12 Jul 2017 12:04:35 GMT

If you still owe money and dont pay it , yes. Closing an account doesnt close your responsibilty to debt accrued

Re: Late Payment Reported After Account Closed

Anonymous — Wed, 12 Jul 2017 12:23:59 GMT

Does the bill have a due date... yes of course it does. It will continue to be late until the amount due is paid off.

Re: Late Payment Reported After Account Closed

Anonymous — Wed, 12 Jul 2017 18:18:34 GMT

Creditors can report accurate information at any time. You could have an account closed 3 or 4 years ago that doesn't have any negative information reported on it (in error) and if the creditor recognizes this error and re-reports it (accurately) it will appear on your report years later. This isn't common, but can happen. So yes, the answer to your question is that a late can be reported after an account is closed.

Re: Late Payment Reported After Account Closed

DaveInAZ — Thu, 13 Jul 2017 22:19:45 GMT

Since the OP hasn't come back, reading through this thread made a question pop in my head: If you close, or a creditor closes, an account that still has a balance would that get reported at 100% utilization, the reported CL being the current balance?

Re: Late Payment Reported After Account Closed

rmduhon — Fri, 14 Jul 2017 02:29:45 GMT

It would depend on if a limit is still reported. If no limit is reported and there is a balance then the card would be way over limit. If the limit is still being reported then it would be the same as usual, just closed.

Re: Late Payment Reported After Account Closed

Anonymous — Fri, 14 Jul 2017 07:58:17 GMT

From what I've seen the limit usually goes away, so you are adding to your debt numerator while nothing is added to the denominator (total credit limits) which means the account is adversely impacting your utilization in the worst way until the debt is gone on that account.

Re: Late Payment Reported After Account Closed

Anonymous — Fri, 14 Jul 2017 10:43:36 GMT

It's paid in full now. I was just wondering if I could get rid of that late payment

Re: Late Payment Reported After Account Closed

Anonymous — Fri, 14 Jul 2017 16:06:05 GMT

@Anonymous wrote:
It's paid in full now. I was just wondering if I could get rid of that late payment

You'll have to request goodwill from the creditor. The rebuilding forum has a lot of information on this process. Depending on who you're dealing with and the severity of your late payment (and when) these things can be anywhere from simple to difficult to make happen. Good luck!

Re: Late Payment Reported After Account Closed

Anonymous — Fri, 14 Jul 2017 16:17:04 GMT

I sent a goodwill letter and got a call back from the EO asking for the months I was late. He said he'll call me back in a little while. Fingers crossed!!

Re: Late Payment Reported After Account Closed

DaveInAZ — Fri, 14 Jul 2017 16:34:45 GMT

@Anonymous wrote:
From what I've seen the limit usually goes away, so you are adding to your debt numerator while nothing is added to the denominator (total credit limits) which means the account is adversely impacting your utilization in the worst way until the debt is gone on that account.

Thanks for the info. I've always paid an account in full before closing, I think I'll continue that practice.

And good luck Anaki902 in your goodwill letter & getitng the late removed.