@Anonymous wrote:
Well to my understanding, a negative mark isn't reported to a credit reporting agency unless it's over 60+ days. I've never been more then a couple days late.
Hello and welcome to the forums.
Could you be confusing that with part of the Credit Card Act 2009 that says:
Retroactive interest rate hikes on existing balances are banned, except when:
•An introductory or "teaser" period ends.
•The interest rate is tied to an index and is variable.
•The card user completes the terms of a workout plan for debt repayment or fails to comply with terms of a workout plan.
•The card user is more than 60 days late making a monthly payment. The card issuer must give the reason for the increase and must restore the interest rate to the previous, lower level after six months if the cardholder has made on-time payments during that six-month period.
I'm just throwing out possiblities because I don't recall any aspect of the new laws that say a late payment is not reported until the 60 day mark. But it could be there and I just haven't read it yet.
From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
