Question about possible 30 days late.

[Anonymous]

HI Guys,

     I am a new comer to myfico! I have a question about 30 days late. My payment was due on Dec 28th, and I actually was going to the bank today (being saturday) to make the payment and also present them with my pre approval letters from 2 other lenders to see if they could beat the rate. Well...... LOL turns out they were closed. So that puts me in a bad position cause I cant make my payment till Monday the 27th which is infact the 30th day. However I did go and get a money order immediately and take it to the drop box. I am just really looking for a clear answer. I have read for hours on the forums, and google searches. Some say they can report, some say they cant report, some say that its at their discretion because it is infact 30 days late, other say its posting time. I do not have access to the bank terms and conditions. Any help or insight would be appreciated. It is a small country bank not one of those big banks, but as you can imagine it comes at a bad time as the seller of the house just accepted my offer, and I am so worried I can not even sleep. Im a logical person im not faulting the bank I know I had plenty of tiem to pay it. UGH its like a $81 dollar payment its just there is such a long drawn out story that goes with this, but to be clear here is the scenario/question!

Due 12/28 Paid in cash and posted on 1/27 at 900am cutoff time is 1pm what do you guys think will happen? 

[DR527]

Sorry, that sucks. I'm not sure about the 30 late rule. I always thought it would be reported late after 31 days. But I could easily be wrong. 

[RobertEG]

It becomes reportable to the CRAs once it is 30 days delinquent, as clearly set forth in the standard CRA reporting manual used by the big-3 CRAs, titled the "Credit Reporting Resource Guide."

[Trudy]

With it being a small country bank you may be able to speak with someone and explain the situation and ask (beg) they don't report it.

[Anonymous]

UPDATE:     So I actually found a link to pay the account with  an external payment. Did not know that this existed the hyperlink is so small. So I made the payment with my BOA account it gave me a confimration number at the top is "Your Payment is 29 days past due Please make a payment now. So I made the payment it says that my payment was made on 1/26/2019 and that the balance will update with nightly processing. It also has a confirmation number saying payment received.  Do you think that this will change my situtaion. 

[RobertEG]

The Fair Credit Billing Act requires that if a payment is received by a creditor prior to 5PM on a Friday, its posting date must be that date rather than the next regular business day, such as Monday.

Thus, if they received your payment prior to 5PM on day 29, it cannot be reported as a 30-day late.

[Shooting-For-800]

Cant pay online?

Cant pay via phone?

[Shooting-For-800]

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@Anonymous wrote:

UPDATE:     So I actually found a link to pay the account with  an external payment. Did not know that this existed the hyperlink is so small. So I made the payment with my BOA account it gave me a confimration number at the top is "Your Payment is 29 days past due Please make a payment now. So I made the payment it says that my payment was made on 1/26/2019 and that the balance will update with nightly processing. It also has a confirmation number saying payment received.  Do you think that this will change my situtaion. 

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YES.

Print out EVERYTHING.  

29 days late.

Payment confirmation. 

EVERYTHING.

I assume you paid the current payment also?

If not, I would do so now. 

I would also pay at least twice as much due.

GL!

[Anonymous]

Yes I paid the past due amount of 35.00 the jan and feb payment online, and then also there is a 200 dollar money order in the night depository. So it will be about 5 months ahead at this point. I was so happy to find the link. I printed the conformation, and everything just in case. 

[Shooting-For-800]

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@Anonymous wrote:

Yes I paid the past due amount of 35.00 the jan and feb payment online, and then also there is a 200 dollar money order in the night depository. So it will be about 5 months ahead at this point. I was so happy to find the link. I printed the conformation, and everything just in case. 

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I would double check your minimum payment every few weeks.  

I assume this is a loan and not a cc.  Even so, some loans do not advance your due dates with over payments.

They just apply the overage to principle.

GL!