Slow pay is a term that was used before FICO scoring. There are mixed opinions as to whether it is still in use or whether it is still legit to use it.
I found a number of references to it regarding business credit, when I went searching off the reservation, and I found a couple of references to slow pay and consumer credit regarding Wells Fargo.
It's my non-legal opinion that if you are between 1 and 29 days late on a payment, but an OC reports you 30 days late, then they are inaccurately reporting. Some agree with me. Others do not. But I haven't found any caselaw to say one way or the other.
If you can in any way pay it on-time, even if you have to charge it to a credit card, I would say try to go that route and avoid the possibility that WF behave as collossal pr*cks and report it 30 days late.
Message Edited by Noah_Bodie on
08-08-2007 11:54 PM