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Exeter Auto Loan Late payments

jlb5685
Established Member

Exeter Auto Loan Late payments

My husbands truck was financed through Exeter Finance in 2016. His payment due date is the 10th of each month and we've had a few times over the years where we have paid it with his check at the end of the month, which would be subject to a late fee BUT not 30 days late. They have reported it 30 days late 4 of those times when we very clearly were not 30 days late. So both our credit reports have these late payments that are greatly affecting our score since they are the most recent activity. I poured through our statements and online account activity and took screenshots of the exact date the payments were made for each one of the 4 they reported late. All of which are either 19-20 days late, NOT 30. 

What can I do with this? Do I reach out to Exeter first and try to get them to take them off or do I send these to the credit bureaus? 

Message 1 of 6
5 REPLIES 5
gdale6
Moderator

Re: Exeter Auto Loan Late payments


@jlb5685 wrote:

My husbands truck was financed through Exeter Finance in 2016. His payment due date is the 10th of each month and we've had a few times over the years where we have paid it with his check at the end of the month, which would be subject to a late fee BUT not 30 days late. They have reported it 30 days late 4 of those times when we very clearly were not 30 days late. So both our credit reports have these late payments that are greatly affecting our score since they are the most recent activity. I poured through our statements and online account activity and took screenshots of the exact date the payments were made for each one of the 4 they reported late. All of which are either 19-20 days late, NOT 30. 

What can I do with this? Do I reach out to Exeter first and try to get them to take them off or do I send these to the credit bureaus? 


I would use the direct dispute with them.

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

Message 2 of 6
jlb5685
Established Member

Re: Exeter Auto Loan Late payments

I have tried the direct dispute as well as sending letters for removal and all I have received back are letters from them that the late payment is accurate and there will be no changes.

 

We are now getting ready to start shopping for a mortgage and I know the most recent late in Sept 2018 will affect this greatly. I know this was inaccurate and I cannot get them to budge. I don't know what to do now...I even took screenshots of exactly what day the payment was made and mailed that with the letters.

Message 3 of 6
gdale6
Moderator

Re: Exeter Auto Loan Late payments


@jlb5685 wrote:

I have tried the direct dispute as well as sending letters for removal and all I have received back are letters from them that the late payment is accurate and there will be no changes.

 

We are now getting ready to start shopping for a mortgage and I know the most recent late in Sept 2018 will affect this greatly. I know this was inaccurate and I cannot get them to budge. I don't know what to do now...I even took screenshots of exactly what day the payment was made and mailed that with the letters.


You can file a BBB report over shoddy business practices and if this fails then file a complaint with their regulator. If they deal with more than 10B in assets then a complaint can be filed with the CFPB.

Message 4 of 6
workingfor850
Valued Contributor

Re: Exeter Auto Loan Late payments

I would file a complaint with the CFPB, I know that agency has been gutted a bit but we had a couple of issues like this a few years ago and just filing the complaint was enough to get the creditors to remove the stuff from the CRAs.   

Message 5 of 6
KJinNC
Valued Contributor

Re: Exeter Auto Loan Late payments

I think if you were to dispute with the bureaus, it SHOULD get removed, because the bureau will ask the reporting company for evidence, and they will not have evidence. Since you've already tried with the company, I would dispute with the bureau(s). Good luck!


FICO Resilience Index: 66. Cards: 16/24, 1/12, 0/6. Accounts including loans: 20/24, 2/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
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