Delinquency

[907grown]

According to my report, I have a delinquent balance of 5886, this happens to be the exact amt that I owe on my car, which just happens to have been  reported late this month by GMAC, I am currently disputing this because yes, the payment was a couple days late, but I was given wrong info by GMAC and was told that this would be okay.  As for now, that is beside the point.  Anyway, according to the simulator, if I pay off my delinquent balance, my score will increase by about 40ish points.  So does this mean that next month, when GMAC reports me "paid as agreed" and this delinquency is no more, will I really get those points back?  I lost 73 points when this was reported late, another reason why I am disputing it, so getting a 40ish point gain would be wonderful!

[AndySoCal]

I think the simualtor is saying if you pay it and delinquency remains on your payment history. You will get that many points by making the payment. I would think if 30 day late is removed you should get all the points or close to it.

[jackg]

nyankovic,

If things are a bit tight for you I suggest you call GMAC and tell them you are a hardship case but wnat to maintain your relationship with GMAC. They have a program that has you pay 50% of that months payment, skip a payment the following mont, pay the other 50% from the first month and they add the skipped payment to the end of the contract. I hpoe this helps you out.

Good Luck

[RobertEG]

Being late on a payment does not necessarily result in report of a delinquency to a CRA.

The statement billing date sets the due date, which is usually 30-days from the billing date.

If a payment is received 1-29 days after the due date, it is late, but is still reported as a current account to the CRA.

An account is not reported as delinquent to the CRA until the delinquency extends 30 days from the due date (i.e., 60 days from the billing date).