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I have an auto loan and I have recently recieved a "deliquency" on my credit report, i called the loan company and they intial informed me I had not ever been thirty days late, then came back on the phone twenty min later to inform me I was 32 days late in March 2007. Can they seriously report this 2 years later even though it shows ok on my report now for that month?
Yes, any negative listing may by reported for seven years according to Fair Credit Reporting Act. Late payment may affect your score but not as much as that of delinquent or a charged off account. Late mark on your credit report does not indicate delinquency. Delinquency occurs if you have not made a payment for a continuous period of six months.
If you were only late on that one payment then I would call them back because as Mary said a deliquency occurs when you have not made a payment for a CONTINUOUS peiod of six months.
When you get a late on your report it will usually go off after you made 12 consecutive payments on time. If they do not remove the deliquency I would then go and dispute this mark with the three credit bureaus and try getting it removed. Hope this helped you. Good Luck.
Yes, any late payments including late payments on mortgage stays on your credit report for 12 months from the date you make the payment current. However, delinquency stays in your credit report for 7 years and six months and badly affect your score. Now, since the late mark is in your credit report for two years, you can dispute the same with the bureaus and get it removed from your credit report.
So the next step mholcomb is to the dispute process. It would seem this should not be on your report unless it was continously late. If you feel it is on there by error you can quickly get the issued resolved by sending a dispute letter to the credit bureaus.
auto payment
is it your financial institution reponsibility to give you a courtesy call if your loan is late or maybe mention in when you pay
credit
Wow!!! That's a long time to 'report' you were 30 days late. (Just talking 'outloud' here..) I thought a lender had a 'time limit' they had to report any payment late. I've never had that happen before.
auto loan
I was out of the country (latin america) and tried to make my auto payment thru the co web sight and even thru western union, but was no able. I came back into town 1 day later and immeadiately made the payment. The company did not work on the weekends so I was not able to call them. They reported me 30 days late. I sent them a letter from my fathers physician office which was the reason of my trip, but they are still no willing to remove this. What should I do. This has caused my score to drop tremendously.