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Payment Due

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gtnitright
Regular Contributor

Payment Due

What happens if I don't make the minimum payment due but I made a small payment within the month. 

Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 1 of 8
7 REPLIES 7
UpperNwGuy
Valued Contributor

Re: Payment Due

You have to pay at least the minimum amount due in order for the payment to count.  Otherwise it is reported as a late or missed payment.

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Message 2 of 8
Loquat
Moderator Emeritus

Re: Payment Due

Please elaborate.  Not sure exactly what the question is.  Thanks!

Message 3 of 8
Anonymous
Not applicable

Re: Payment Due

+1 ^
Message 4 of 8
gtnitright
Regular Contributor

Re: Payment Due

So even if I pay an amount lesser than the minimum amount due, it is still considered a late/missed payment.  

Thanks, that's what I wanted to know.  

Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 5 of 8
fltireguy
Valued Contributor

Re: Payment Due

Did you pay at least the minimum due within the course of the month? If not, it is a late payment
Even if it is a penny short
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Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 6 of 8
gtnitright
Regular Contributor

Re: Payment Due

No I didn't.   Had a family emergency.  I'll contact the creditors to explain my case, maybe they will give me a break.



 

Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 7 of 8
Loquat
Moderator Emeritus

Re: Payment Due


@gtnitrightwrote:

No I didn't.   Had a family emergency.  I'll contact the creditors to explain my case, maybe they will give me a break.



 


That's the best thing to do.  Give them a heads up and let them know.  Doesn't mean it won't cause any AA but if you truly don't have the means to take care of the minumum it's better to call them than the other way around.  How many creditors will you fail to meet minumum payment with?  And who are those creditors if you don't mind sharing.  Some may be better to work with than others...but a late payment is still a late payment.  Best of luck and I hope things start to turn around for you.  

Message 8 of 8
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