topic Re: Help w/ calculating when 30+ late should be posted? PenFed in Rebuilding Your Credit

Help w/ calculating when 30+ late should be posted? PenFed

mbauza86 — Tue, 02 Feb 2021 16:48:50 GMT

Hello,

I have a 30 day late from PenFed that they refuse to delete and I noticed that there are discrepancies on what month they are reporting the 30 day late.

TU has March 2019

EQ has April 2019

EX has April 2019

Overall here are the details:

February 2019 Statement issued March 9th

For the Period: 02/08/2019 thru 03/08/2019

Payment was due on 03/30/2019

I did not pay - totally forgot for a miserable $10 - for the Line of Credit/Overdraft Protection

March 2019 Statement issued April 9th

For the Period: 03/08/2019 thru 04/08/2019

Payment was due on 04/30/2019

I paid on April 16th, but didnt realize I picked the old/wrong checking account so it got bounced back and I didnt even realize it. I had closed my old checking account.

April 2019 Statement issued May 9th

For the Period: 04/08/2019 thru 05/08/2019

Payment w/ past due amount was due on 05/30/2019

I paid everything by 05/28/2019 before the due date

I think by not paying by 04/30/2019 - that automatically counts as a 30 day late, but because I paid before 05/30/2019 (next payment), then it was not considered a 60 day late? Now, where I am really confused, should the 30 day late reflect for March or April?

If it's supposed to be April, then I'm going to leave it alone and not dispute it. I dont want TU changing it. I've noticed that a 30 day late past two years is not too terrible point wise.

Also, I was thinking of continuing to GW them, anyone had any success recently?

Re: Help w/ calculating when 30+ late should be posted? PenFed

RobertEG — Tue, 02 Feb 2021 19:27:10 GMT

A payment is late under your account agreement if not paid by the billing due date.

The creditor may then assess any late fees or take other action, such as increase the APR, that has been agreed upon in the formal account agreement. That is a late payment, with the account being delinquent after the billing due date.

However, not all delinquencies are reportable to the CRAs.

The CRAs dont want lates reported until the period of delinquency has reached at least 30 days after the billing due date.

That policy is cleared stated at several places in the common credit reporting manual used by each of the big-3 CRAs, and is not in the least ambiguous.

A 30-late is defined as being 30-59 days past the billing due date at the time of reporting.

A 60-late is defined as being 60-79 days past the billiing due date, and so on.

With regard to the posted scenario, the payment with a stated billing due date 3/20/2019 would become delinquent after 3/30/2019, but would not become a reportable 30--late until after 4/19/2019, and would not become reportable as a 60-late until at least the min payment amount was not paid after 5/19/2019.

If lates are posted for periods that are not in compliance with that policy, they are disputable, based not on the FCRA, but rather as not being in compliance with the reporting policy as set forth in the CRA reporting manual, titled the Credit Reporting Resource Guide.

Re: Help w/ calculating when 30+ late should be posted? PenFed

mbauza86 — Wed, 03 Feb 2021 01:24:18 GMT

Thank you. I'm a little slow. I get it, but I still dont know what is the correct month that PenFed should be reporting the 30 day late. Would it fall under March or April? TU has it late for March but EQ and EX have it for April.