30 days late on payment due date

[money_talks]

I have a past due payment that has a due date of June 9th, 2015. On the day of July 9th, 2015, it will be 30 days that my account is past due.

Questions:

-If I make my payment to post on 7-9-15 (30 days late), will my account be in danger of being reported late to the CRA? Would it be recommended to have the payment post on 7-8-15 (29 days late) instead?

-Once the account is 30 days late, is it automatically reported to the credit bureaus? Or do creditors still decide if they want to to work with the customer to bring the account current to avoid the derogatory mark?

[Anonymous]

Not sure if they work with you.  You will have to wait for the experts to answer that.  But once you they have a new statement, you've gone past the 30 day mark and it will show on you credit report.

[money_talks]

I spoke with my creditor and they said that on 7-9-15 I will be 29 days late, not 30 days late. On 7-10-15 is when they will consider my account 30 days past due and they will automatically report this information to the CRAs.

The creditor also told me I should be OK by making sure my payment posts on 7-9-15. I think it would be a better idea to have it post 7-8-15 just to be safe.

Since my due date was on 6-9-15, on the day of 6-10-15 my account would be 1 day past due. According to the creditor's calculation, my account wasn't 1 day past due until the day of 6-11-15.

[Anonymous]

I agree.  Don't take any chances.  

[takeshi74]

If 30 days late it can be reported.  Given the impact and pain of removing derogs -- when possible to remove them -- I'd recommend avoiding cutting it so close.  We can't tell you how every creditor out there operates.  Some may be willing to be fliexible, some may be hard nosed.  If you're going to assume then assume the worst case.

While reporting and scoring is a consideration it is not the only consideration.  Late payments can make an account subject to things such as a penalty APR.