30 day late illegal?

Discussion in 'Credit Talk' started by Maer, Jun 11, 2001.

  1. Maer

    Maer Well-Known Member

    I have a question. I have one account that is showing it was 30 days past due once a couple of years ago.
    I have tried disputing it with the CRA's however it came back verified. I tried again about a year later and they refused to investigate because it had already been verified. I just tried recently again and they still refuse to re-investigate.
    I tried calling my creditor directly to ask if they would remove it and of course they said the were "unable" to do that. I told them I have never been 30 days delinquent, I recall being 1 (yes one) day late once and I know I had to pay a late charge but that is not the same thing as 30 days delinquent. They said if you are one day or 29 days late it is still considered 30 day delinquent.
    My question is this...Is this legal. It seems like if is states 30 days then you should indeed by at least 30 days late. I don't think it is fair that I am penalized for an extra 29 days that I WASN'T late.
    If this is the case, why should I bust my #*% to pay as soon as possible when it doesn't matter. As long as I get it in there before the 29 day mark.
    I do know for a fact that mortgage and I think car payments don't ding you until you are in deed 30 days past your due date.
    I smell class action lawsuit...........
  2. Cyprigirl

    Cyprigirl Well-Known Member

    what is your grace period annd who is the creditor so that others are aware of their policy?

    Cyprigirl ;)
  3. Maer

    Maer Well-Known Member

    It was Victoria's Secret although I'm pretty sure most or at least many credit card companies do this. I have read not only here but on other boards about this happening. Mainly the complaints are about the late fees that are incurred one day or even in some cases 1 hour late (you know how some places require the payment reach them by say 11:00 or so).

    GEORGE Well-Known Member

    1 DAY LATE IS NOT 30!!!

  5. Maer

    Maer Well-Known Member

    I AGREE!!!!
    I was told that it doesn't matter if you are 1 or 29 days late. You are reported as 30 days late. There is nothing less than that, that could be reported (the cra's do not have provisions for 1 day or 10 day late or whatever)
  6. G. Fisher

    G. Fisher Banned

    Your analysis is correct. If they want to be a credit bureau reporter, they can't change the credit bureaus' reporting rules.

    Write to them and make them give you their policy in writing. After you exhaust all efforts to do that, tape record their statement. I believe you'll be talking to someone in Ohio, so regarding taping, it's a one-party state.
  7. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    I wouldnâ??t go that far but counsel with a lawyer would probably support a case here, even under state guidelines. Besides, you really wouldnâ??t want a â??class actionâ? because theyâ??re cumbersome and limiting. Chances are great (in the extreme) that a letter from an attorney will clear the matter, perhaps even one properly worded from yourself.
  8. dlo64

    dlo64 Well-Known Member

    Speaking of the one day late thing here is a good one.

    My husband has a Lowe's account (MCCBG I believe). Anyway in April the statement said payment due - May 2nd. I mailed the payment from the post office on April 24th. I get the May statement and it shows a $25.00 late fee and get this the payment posting on May 3rd! I was furious!

    I called customer service and wanted to know why it took so long to post a payment. They of course blamed it on the postal system. I also mentioned it looked very suspicious that the payment miraculously posted the day AFTER it was due. What a clever way to slap a $25.00 late fee on the account. I then asked them if this is going to show as a 30 day late (it shouldn't it was mailed out in enough time). The rep told me no, that it would only show a 30 day late if the payment wasn't received until after the June due date. Needless to say, I didn't trust these idiots so I immediately sent the payment due the beginning of June out the next day! Can't wait to see the statement I should be receiving in the next few days.

    GEORGE Well-Known Member

    FIRST USA lost a suit for "HOLDING" payments!!!!

    THEY TRIED IT WITH ME...when I got ripped off for a late fee...I checked with the bank, they said the check cleared my account BEFORE the due date!!!!

  10. GEORGE

    GEORGE Well-Known Member


    This kills your "FLOAT" time.

    Some on this board have suggested that you mail a partial payment twice a month...
  11. Nave

    Nave Well-Known Member

    Yes, ever since I got hit with that CapOne late fee, I now pay twice.

    On the 2nd of each month (just after the bill is due) I pay about 15 bucks (a bit more than my minimum payment usually is, then at the end of the month I pay the balance due. This way I get most of the float, and if my 2nd payment does not post on time I am not late because the first payment credits within the billing cycle. It sucks but I am not going to go through that again, especially if they can report 1 day late date as 30 days late.

    I do all this now online from their ACH payment system, I would not do this if I had to mail checks out twice a month though.

  12. tom65432

    tom65432 Well-Known Member

    I have started paying online through the ACH system. I usually do it five days before the bill is due. I then check back a few days before the payment date to make sure it posted. I can also check my bank account online to make sure the payment cleared. So far, no problem.
  13. GEORGE

    GEORGE Well-Known Member

    I HAVEN'T USED ON-LINE PAY BEFORE...but wouldn't the money be in their account before you can blink??? Why would it take more than one day to be on you account as a payment???
  14. MikeB

    MikeB Banned


    They claim it takes 3-4 days for ACH transactions. Some CC companies will go ahead and post the payment right away whereas some (like CapOne) waits until the ACH transaction clears.
  15. tom65432

    tom65432 Well-Known Member

    There are a couple ways to do it. First, my bank allows me to pay my bills online if the creditor is on the banks list. But, most of my creditors are not on my banks list. Second, you go to the creditor and use their automated system. You authorize them to take the payment from your checking account. I guess it goes through the regular process, just like a check. It usually takes one day to clear, but they always say to give them three days just to be sure.

    I switched just because too many payments were getting posted late, even when mailed 7-9 days early. There is no cost for the service and it gives me peace of mind.

    The worst is Sprint. I love their service and prices, but payments mailed in 3 weeks early were posted after the due date.
  16. GEORGE

    GEORGE Well-Known Member

  17. dlo64

    dlo64 Well-Known Member

    I have a Firstar account. Through them you can sign up for payment by phone. You give them the checking account information from the account you want to pay them through. Then you call their automated system and can pay your bill. If you make a payment before 5 P.M. that day, it gets posted to your account the same day. This has worked out fantastically for me. Best of all, it's a free service.
  18. lbrown59

    lbrown59 Well-Known Member

    SO They should have charged the postal service

    They were late not the debtor.

  19. godaddyo

    godaddyo Well-Known Member

    If this is a credit card, I would give it my best shot to clear it up internally. If this does not work, the next best course of action would require you to close the account. This will make removal much more likely....
  20. bbauer

    bbauer Banned

    Under any and all normal circumstances, computers do not make errors, but humans do so with great regularity.

    I'll bet I didn't have to tell you that! LOL

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