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Do creditors report last payment due or next payment due?

New Visitor ndo
New Visitor

Do creditors report last payment due or next payment due?

I couldn't find anything about this, sorry if it is a repeat.

 

My wife and I are closing on a house at the beginning of January. My student loan payments will be going up with a higher payment billed at the end of December due the 3rd week of January, and I'm concerned if the new payment is reported it would raise my DTI too high. 

 

On a side note, our actual monthly payments are much lower than what is reported to creditors because she is in IBR and while FedLoan reports more than $600 a month as her payment she actually is only on the hook for $0.00. Is there a way to have FedLoan report the actual payment amount to credit bureaus?

 

Thanks for your time.

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Frequent Contributor

Re: Do creditors report last payment due or next payment due?

There's a great question! I would think it would update after the new bill comes out but I have absolutely no idea. If be interested to hear the answer.
As far as updating the payment amount, FLS is horrible for this. There is a payment letter on there for mortgages. If you need it to still update at each CB you could always do a dispute, submitting the letter and maybe a bill. I would say call and speak with an account specialist.... But who knows when FLS will fix it. If they fix it (I've often find they say they're doing stuff when they're not).
Hope this helps and you can get it fixed in time. Congrats on your future homeownership!!



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