@duckSF wrote:I had already used their maximum deferrral period to make a payment but the payments are still too large for me to catch up on. They're currently reporting 3 payments late on my credit report. Wasn't there some kind of a procedure/law in place to not report late if it's due to Covid? Either way, is there no way to get them to remove the late even if I completely catch up with the payments?
This is the only bad thing on my report so I really hope to be able to save my file from going down.
My understanding of the "law" you speak of (which might not be the way other's understand it -- and I'm not a lawyer or politician) is... there was a moratorium put in place that has since expired to prevent lenders from reporting negative information to CRA's while the country (world) had a stay at home order.
This article https://www.nolo.com/legal-encyclopedia/credit-protections-under-the-coronavirus-cares-act.html might help you understand what is/was allowed.
@duckSF wrote:I had already used their maximum deferrral period to make a payment but the payments are still too large for me to catch up on. They're currently reporting 3 payments late on my credit report. Wasn't there some kind of a procedure/law in place to not report late if it's due to Covid? Either way, is there no way to get them to remove the late even if I completely catch up with the payments?
This is the only bad thing on my report so I really hope to be able to save my file from going down.
I'm sorry you're dealing with this. I don't know for a fact, but the answer to your question may depend on where you live. I know that here in California--both statewide and within LA county--we have many, many programs/protections/moratoriums that other places do not. Where are you located?
