A Question About Late Payments

[Anonymous]

First of all, I've never made a late payment in my almost 9 year credit history... But I am curious.

I see all these posts talking about people's late payments of 30, 60, or 90 days. But what if someone makes a payment only 2 days late? i.e. payment due date is on March 1st and the payment isn't made until March 3rd. Do the companies round that up to 30 days and report that? Or is it 30 days from the billing cycle?

I guess, basically, I'm just looking for clarification on what the creditors consider "30/60/90 days late"

[Dawn]

30 days late "generally" is supposed to be 30 days after the DUE date.  It has been reported that some less agreeable companies don't go by the industry standard and go ahead and report to the CRAs if you are a few days late.  I don't know if anyone has ever disputed that type of reporting.

[Anonymous]

Good question Moobs! I asked the same of a Cap1 CSR when I called their back door number.

She told me of the distinction of a 30 day late vs. over due payment.

30 day lates are the one's that pop up on your cr. and they are indeed lates that occured when payment was posted AFTER 30 days after the due date.

If a few days after the due date, it's considered overdue, but not late. I look at it as receiving the payment after the due date but within their "grace period".

[Anonymous]

Whoops! What Dawn said! :

[Dawn]

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Sylviatob wrote:

Whoops! What Dawn said! :

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Well ... it never hurts to reinforce.  Besides ... as I have found out with my kids ... you can say the same thing in slightly different ways and and reach more people.

I would still take issue with the "accuracy" of reporting by those creditors reporting 30 day lates when they were actually paid less than 30 days after the official due date.  Has anyone ever successfully disputed one of these and gotten it removed?

[Anonymous]

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Dawn wrote:

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Sylviatob wrote:

Whoops! What Dawn said! :

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Well ... it never hurts to reinforce.  Besides ... as I have found out with my kids ... you can say the same thing in slightly different ways and and reach more people.

I would still take issue with the "accuracy" of reporting by those creditors reporting 30 day lates when they were actually paid less than 30 days after the official due date.  Has anyone ever successfully disputed one of these and gotten it removed?

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I have one of these disputes pending.  I'll let you know how it turns out.

A natural gas account I had from an apartment I lived in many years ago still reports to my CRs.  In the payment history I see on MyFICO, it shows no lates on this account.

I didn't notice there was a problem with it until I pulled my raw report directly from TU.  On that report, there is a notation "Maximum delinquency of 30+ days for $0 in 05/2003."

Um, excuse me?  1) How was I 30 days late in the amount of $0?  2) If I was late, then why does my payment history show nothing but little green boxes all the way back to the beginning of time?

I checked my records (yes, I have records going back that far), and found that I did pay late that month, but only by a few days.  I disputed as "I was not 30 days late in May 2003."

I'll post back here when the results come back.

[Anonymous]

Oh cheddar that would drive me up the wall!  Yes, what gives on the $0, 30 days late? Makes no sense to me.

Yes, please do keep us posted on the outcome.

[marty56]

Some CCCs say a payment is 30 days late if you dont pay be the next statement date.  4 years ago Wells Fargo gave me a 30 dat late because the payment was due on the first and I paid it on the 4th and the next statement droped on the 3rd.

What I do now is use online bill pay and I try to pay 3 business days before the due date.

Keep in mind that some CCCs have a time of day limit so if you walk into say BofA at 2:01 EST and the payment is due by 2pm EST, you are late.  Maybe not 30 days late but late enough to get an interest rate jack and or a CL drop.

[ChuckG]

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@Anonymous wrote:

Oh cheddar that would drive me up the wall! Yes, what gives on the $0, 30 days late? Makes no sense to me.

Yes, please do keep us posted on the outcome.

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Sheesh! Maybe I ought to start writing checks for $0 and sending them out in time for my billing cycle when no payment is due just in case... nice bit o' bureaucracy BS.

[Anonymous]

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@ChuckG wrote:

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@Anonymous wrote:

Oh cheddar that would drive me up the wall! Yes, what gives on the $0, 30 days late? Makes no sense to me.

Yes, please do keep us posted on the outcome.

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Sheesh! Maybe I ought to start writing checks for $0 and sending them out in time for my billing cycle when no payment is due just in case... nice bit o' bureaucracy BS.

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Yeah, it's pretty obvious from my records that this was a bureaucratic snafu.  I think what happened was that they reported me as 30 days late (even though I was only a few days late), but by the date that would have been 30 days after my due date, my balance was $0 (since I did pay, but just a few days late).  Somehow their system translated that into 30 days late for $0.