Panic about Carmax

[Anonymous]

I understand that you're concerned but please do not double post. This has nothing to do with credit cards and cross posting is a violation of forum rules.

[myjourney]

Technically if it was due on  Jan. 17th and you paid Feb. 18th you are over the grace period and late 

That being said asking the forum won't help sorry

What you need to do is contact the lender in a respectful and apologetic tone and hope for the best 

Good luck 

Also to add: cross posting is against the TOS of the forum and should be refrained from 

Post should be placed in the proper forum and not posted where you feel the traffic is for responses ..

Moving to auto 

MJ

[myjourney]

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@Anonymous wrote:

I understand that you're concerned but please do not double post. This has nothing to do with credit cards and cross posting is a violation of forum rules.

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You beat me while I was typing and paperwork ...Lol

[ccpat]

Sorry. Didn't mean to be in violation. I thought I would get advice on placing apps for credit cards now or if any of my limits will drop because of this. I understand the topic is not about credit cards but I think it affects my credit cards. I apologize.

[Anonymous]

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@ccpat wrote:

I have a car loan through Carmax and paid OK until this month. I got a little behind and was waiting on my check this week.  The due date was yesterday to avoid a 30 day late.  I paid this morning.  Due on the 17th and I paid at 6:20am on the 18th. Just too much going on.  I meant to try to pay last night and hope it didn't hit my bank but missed the cut off.

My question is will Carmax report the 30 day late or is there anything I can do or call someone to prevent it?  I'm working so hard to rebuild and this will set me back and cause a huge score drop.  

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I'm assuming 2/17 would have marked the 30th day of being past due on the account. 
The cut off is 5pm on the due date, at least for Credit Cards maybe someone knows what it is for Auto Loans.
Paying on the 31st day is 30 days past due. So it will likely be reported as much on your credit. 

[Anonymous]

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@ccpat wrote:

1. I'm sick!!!  Called Credit Maintain at Carmax and they said there is nothing they can do. In 30-60 days there will be a late reporting.  All of my hard work in the toilet. TU is 655, EX is 630 and EQ is 625.  Should I app for what I can now and just garden after it hits? 

I feel your pain. You are trying so hard to make the best of your credit & one mishap sometimes can ruin the whole thing. But you've got to understand the position you're in & look for ways to make it better. We are going to make mistakes. We are going to sometimes fall because on EVERY journey there will be points that get us down. But we have to remember that we won't stay down forever, if we try. 

You've got to come up with a plan to figure out what happened. You've got to figure out WHY you were 30 days late this month. Think of the unexpected expenses that came up. Think of ways to get CLIs on your credit cards so in case of an emergency like this, you can place the charge on your card & pay later - so you WON'T EVER be late agin. I understand your frustration, but we as people have got to take responsibility for our own actions. If Carmax reports a 30 day late, then you've got to bite the bullet & deal with it because it isn't their fault. Think of ways to overcome this & you WILL succeed. 

If you apply for more cards, that's totally up to you. But you have to be aware to take the risk of bringing your score down even FURTHER if for some reason you end up getting denied & you add more inquiries. If I were in your shoes ... (which I'd love to be back in the 600s again) ... I would just garden with the cards I already have for a good 3-6 months. I wouldn't want to waste an inquiry or risk getting denied. 

Best Wishes.

[Appleman]

This is a tough one. I am not sure how Carmax is about forgiving a 30 day late? If your loan has been paid on time and this is the first late, maybe they will work with you. 

Do you have enough to pay this months payment? I understand this must be incredibly stressful for you, positive thoughts your way.

[Shooting-For-800]

OP beg and beg and beg.

for the future, if you call them they will let you skip payment and add to end of the loan.

[diocco]

 If they mark you late They WILL NOT Remove.  I had same situation you had. Paid 1 day late and they marked my report.  After the car was paid off, I paid it off 1 year early. I emailed the CFO and he redirected me to his secratary.  She had me call her.  I told her I was shopping for a house and was wondering if she could take the late payment off my credit report, myself and my family would be grateful.  She said NO.  I said thank you and I will never buy a car from your company again.

CARMAX SUCKS

[StartingOver10]

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@diocco wrote:

 If they mark you late They WILL NOT Remove.  I had same situation you had. Paid 1 day late and they marked my report.  After the car was paid off, I paid it off 1 year early. I emailed the CFO and he redirected me to his secratary.  She had me call her.  I told her I was shopping for a house and was wondering if she could take the late payment off my credit report, myself and my family would be grateful.  She said NO.  I said thank you and I will never buy a car from your company again.

CARMAX SUCKS

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^^^No, you paid more than 30 days late - you paid on day 31 if they reported your late pay to the CRB's.

You have to change your thinking about due dates.  Thinking that it is okay to pay 29 days late and just skate by is not the solution.  If you have a payment due Jan 17th, the time to make that payment is all the time you have between Jan 1st to Jan 17th, not Feb 17th. 

You would be amazed at how much less stress you feel when you make that payment days or even weeks ahead of the due date. Sit down and make a budget.  You will find more money available to you when you don't have late fees and other penalties to pay during the month.  If there is more month than money - then get a temporary second job until you get your budget under control.  One late payment will hurt, but it isn't the end of the world and as time goes along it will impact you less and less. The over riding issue you have right now is to figure out your actual monthly budget so you aren't using the grace period to make your payment.