30 day late payments back to back?

[MizKutiePy]

I am helping a friend repair her credit.  While looking at her payment history on a charge off, there are two consecutive 30 day late payments (Dec 2014 then Jan 2015).  Can you have two 30 day late payments back to back?  Essentially wouldn't the 2nd 30 day late really be a 60 day late?  I'm just trying to see if I'm missing something here.

[dragontears]

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@MizKutiePy wrote:

I am helping a friend repair her credit.  While looking at her payment history on a charge off, there are two consecutive 30 day late payments (Dec 2014 then Jan 2015).  Can you have two 30 day late payments back to back?  Essentially wouldn't the 2nd 30 day late really be a 60 day late?  I'm just trying to see if I'm missing something here.

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Of course you can have back to back 30 day late payments. All it takes is to pay the past due but not the current amount due.

It is possible that the information is an error and it should be a 60 day late but most people don't want to add worse deliquency to their reports. 

[iv]

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@MizKutiePy wrote:

I am helping a friend repair her credit.  While looking at her payment history on a charge off, there are two consecutive 30 day late payments (Dec 2014 then Jan 2015).  Can you have two 30 day late payments back to back?  Essentially wouldn't the 2nd 30 day late really be a 60 day late?  I'm just trying to see if I'm missing something here.

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Rolling 30-day lates are really easy to happen... all it takes is missing one month, and then making single-month payments in following months (not catching up).

If she missed the Dec 1st 2014 payment, and then paid it in Jan 2015, that would count for the Dec payment... but the Jan 1st 2015 payment would still be outstanding.

If in Feb 2015, she finally caught up and made a double payment (plus fees/interest), that would cover Jan and Feb, and she'd be back to current.

But both Dec and Jan would count as 30-day lates.

To get to a 60-day late, she'd need to have made NO payments at all for two months in a row.

[Iusedtolurk]

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@MizKutiePy wrote:

I am helping a friend repair her credit.  While looking at her payment history on a charge off, there are two consecutive 30 day late payments (Dec 2014 then Jan 2015).  Can you have two 30 day late payments back to back?  Essentially wouldn't the 2nd 30 day late really be a 60 day late?  I'm just trying to see if I'm missing something here.

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Agree with @dragontears  very possible scenario and I'll rather have 2 30 day lates than 1 60 day. 

Dec 2014 should drop around Dec 2021

Jan 2015 should drop around Jan 2022

Early Exclusions (*search forum if not familiar with the process) could be utilized to get rid of them earlier...(closed accounts or if you can close)

Experian 6 months early

Trans      3 months early

Equifax  1 month early

[Anonymous]

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@Iusedtolurk wrote:

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@MizKutiePy wrote:

I am helping a friend repair her credit.  While looking at her payment history on a charge off, there are two consecutive 30 day late payments (Dec 2014 then Jan 2015).  Can you have two 30 day late payments back to back?  Essentially wouldn't the 2nd 30 day late really be a 60 day late?  I'm just trying to see if I'm missing something here.

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Agree with @dragontears  very possible scenario and I'll rather have 2 30 day lates than 1 60 day. 

Dec 2014 should drop around Dec 2021

Jan 2015 should drop around Jan 2022

Early Exclusions (*search forum if not familiar with the process) could be utilized to get rid of them earlier...(closed accounts or if you can close)

Experian 6 months early

Trans      3 months early

Equifax  1 month early

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EE is *not* for lates on otherwise positive accounts (open or closed - no point in closing the account - EE will not happen). It is only for entirely derogatory accounts based on the DoFD (excludes any other individual or strings of lates pruor to the last string of lates that led to the end of the account in derog status).

If a 30d late occurred 12/2014, day 1 late was technically 11/2014, and should age off October or November 2021. If the lates are back to back, EX (only) drops entire strings of lates all at once when the first late in the string hits 7 years old. So, for EX only, both lates will age off in Oct/Nov this year. EQ and TU will drop off one at at time, each month.

[RobertEG]

Yes, it is possible to have consecutive late payments, as discussed by others.

However, having reportable consecutive late payments is a separate issue.

Once an account that was delinquent by not paying at least the billed minimum payment by the payment due date, it can be returned to good-standing by paying the min amount billed   If it is followd by another late payment based on the new billing due date, that constitutes a new DOFD.  As clearly stated in the common credit reporting manual used by the big-3 CRAS, it does not, however, become reportable as a new 30-late until it becomes 30 or more days past the new billing due date.

Thus, one should not technically have two consecutive reportable 30-lates in payment history profile, as the second payment, while late under the account agreement, would not be 30-59 days past the billing due date until the next month.