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Reporting Late Payments

Regular Contributor

Reporting Late Payments

My other half has a BMW and he was a couple days late on some months but all LESS than 30 days. This was for a couple months. BMW Financial updated his credit report with a 30 day late derog on EACH month!!

And we all know how crappy BMWFS is on their help in credit reporting. It's like talking to a brick wall.

What can he do?
EQ: 710(FICO) EX: 695(FICO) TU: 708(FICO)
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Legendary Contributor

Re: Reporting Late Payments

CRA policy is clear that a late must extend 30 days past the billing due date to become reportable.


File a dispute with the CRA, providing a billing statement showing the billing due date, and proof of date it was paid.

If the date paid is less than 30 days after the billing due date, cite the CRA credit reporting manual, titled the "Credit Reporting Resource Guide," as basis for the inaccurate reporting of a 30-day late that was not late at least 30 days after the billing due date.

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