The key to avoiding a 30-day late when you're perpetually 1-29 days late???

[DollazSense]

I am trying to keep 30-day lates from hitting my credit report, if possible. 

I recently lost my job and I'm still about $300 short even with my unemployment benefits. Savings are gone. So, this means I must prioritize bills and the order in which I pay them. And I must be very strategic to minimize damage. 

Is it possible to avoid 30-day lates if I make sure a credit card bill is paid before the next statement closes? Basically, can I continue to lag behind on payments for a couple months without getting a 30-day late mark?

I realize doing this could make the creditor close my account, but it's not as risky as not paying anything at all.

Example: A $125 credit card bill is due on May 14 (and the 14th of every month). The statement closes on the May 18 (and the 18th of every month). Let's say I finally pay the May 14 bill on June 1, almost two weeks after the statement closes. I don't pay the June 14 bill when it's due; I pay on June 27. What does the creditor report around June 18, when the June statement closes? Paid on-time or 30-days late? 

Someone once said on these forums: "If you became delinquent on your original account agreement, you remain delinquent until you have paid back the entire delinquency." I'm trying to determine how that relates to me in the example listed above. The statement was made during a discussion about people getting on temporary hardship plans but ending up with 30-day late marks on their report. I know the key to avoiding a 30-day late when you initially sign up for a hardship plan is paying the full amount owed (if you're financially able) IN ADDITION to the hardship plan's minimum due amount. 

My last late marks (30 and 60-day) were from five years ago. I'm trying to get to that 7-year mark with a clean slate. Argh! 

I'm in the process of moving back in with my parents so I'm going through belongings I can sell. I just listed some items on eBay and put my $300, 1-year-old TV on up for sale on Craigslist. I'm getting back into secret shopping, too. We shall see. 

[Anonymous]

Hi!

Okay say your Cap One card is due June 14th...it won't report a 30 day late until July 15th. But you need to remember the months that have 31 days..so July 14th is 30 day late Aug 14th.

They report it usually anytime after 5pm (close of business) cst on the 30th day from the due date, so a good rule of thumb is not to pay more then 28 calender days after the due by date when your having to stretch out your payments like you are.  If you pay online, make sure you print out your receipt so if they do report you late ...you can dispute it and get it removed because they have to report it the day you pay not the day they process

Don't get down on yourself and things will get better

Good Luck!

[DollazSense]

Thank you. To confirm: you're saying I can indeed make late payments 1-28 days after the due date for consecutive billing cycles to avoid 30-day lates on my credit report/s?

[RobertEG]

Yes.

CRA policy, clearly stated in their standard credit reporting manual, is that a reportable 30-late must be at least 30 days after the billing due date.

That is different from being late under your account agreement, which requries only that you dont make payment by the billing due date.

Being late under your account agreement permits certain creditor actions under the terms of your account agreement, such as assessment of late fees, account closure, etc., but does not permit the separate reporting of a 30-late to a CRA until at least 30 days has expired from the due date.

That applies each month.

[Anonymous]

but you also need to remember you will more then likely get hit up with late fees, those can be a budget killer...if you can call some and feel them out for a new due date (when you get unemployment) to avoid late fees or ask for a "Temporary Hardship Plan", that is where you can avoid late fees and they might even lower you APR without closing your CCs, but if they agree...just make sure you don't pay late or miss a payment because they will immediately cancel plan and that could be painful