Late Payments

Discussion in 'Credit Talk' started by Aux, Sep 26, 2001.

  1. Aux

    Aux Well-Known Member


    My husband, he has a lot of Late Payments listed on his credit report. (Macys, Bloomingdales and Sears) He sent out the letter asking for the proof of those late payments and give them 30 days to response. He got the letter from Bloomingdales yesteday mentioned that those late payments are correct. They didn't send him the proof. Should he send out the another letter asking for the proof?


  2. Andrew

    Andrew Well-Known Member

    Would it be sufficient proof if your husband sent Bloomingdale's a letter stating that the he was never late? Probably not, so why should their letter be sufficient?

    Make them prove it. Tell them you want specific dates and proof of when your payments were received and posted to the account. Make 'em sweat if you're sure you're right.
  3. Aux

    Aux Well-Known Member

    Thanks for your input. Actually, Those late payments are not all correct. Only 2-30 late payments but they listed 4 times 30 late payments. Been disputed for almost 1 year but they all came back varified.

  4. Andrew

    Andrew Well-Known Member

    Hell, I'd dispute it no matter whatâ??right or wrong. We all make mistakes and then we learn our lesson. I don't think any of us are so stupid that it should take 7 years to realize what we did wrong.
  5. chelechele

    chelechele Well-Known Member

    I know exactly what you mean....I have learned from my mistakes and constantly telling use it, you pay it off. LOL :) I don't need to stand in the corner for 7 years either... :)
  6. lbrown59

    lbrown59 Well-Known Member

    Defination of VERIFICATION:
    The art of repeating the same lie!
  7. author_22

    author_22 Well-Known Member


    I know, they think verification is just repeating the same damn thing like we're stupid.


  8. lbrown59

    lbrown59 Well-Known Member

    If you pay the Jan. bill in Jan. you're not late.
    Same goes for the other 11 months of the year.
  9. rubyjean

    rubyjean Well-Known Member

    Not true.. Credit Card Bills are billed by billing cycles.. ex.. Cycle 4 .. is due around anywhere between the 4th to the 6th of the month.. If you Jan bill is cycle 4.. It is due on the 4th of Jan.. If you pay on Jan 25th.. you will be accessed a late fee..
  10. MikeB

    MikeB Banned

    I think lbrown59 is referring to not being "30 days" late, right? As far as late fees go, if your payment did not post by whatever time the CC says on the due date, expect a late fee, depending on the company. I specifically asked my mortgage lender about a previous lender reporting me 30 days late for missing a due date by a few days or a week. She stated that is wrong. I have never found anything from FTC that documents this though.
  11. Hal

    Hal Well-Known Member

    Here is the scenario - December bill due 12/5 paid on time, January bill due 1/4, paid 1/6 - technically it is only 2 days late - however - the CC companies don't have a reporting entry for 2 days late, they use the 30 day late because it is the only entry available - it IS WRONG. Most CC companies have their computers review the accounts to see if a pmt was received each cycle, if not they report - it SUCKS and needs to be changed or not considered in scoring.
  12. Mist

    Mist Well-Known Member

    If it was 2 days late they are in violation of the FCRA if they have reported it as 30days late.
  13. MikeB

    MikeB Banned

    Please cite where you see this in FCRA.
  14. Aux

    Aux Well-Known Member

    Letter to Creditor (late payment)

    Please give me some input. I am going to send the second letter to creditor.

    "On ........., 2001, I wrote to dispute the account as reflecting late payments that I discovered upon reviewing my credit report. A copy of that dispute is attached along with proof that of certified mail service.

    As it has been more than 30 days and I have not received the required information, I assume that you were unable to verify the accuracy. According the Fair Credit Reporting Act, you must remove or correct inaccurate or unverified information from your files. In addition, since the item is disputed, you may not report the information to a CRA without including a notice of my dispute. And, once notified of the error, you may not continue to report the inaccurate information.

    If this situation is not corrected immediately and the negative information removed immediately, I will contact the Better Business Bureau, The Federal Trade Commission, and the State Attorney Generalâ??s Office and provide them copies of the dated documents which clearly show that you did not respond to my dispute or notify the credit reporting agency of the dispute. Within ten days, please provide me with proof of your request for removal of the inaccurate information from any and all credit reporting agencies (Experian, Equifax and TransUnion).

    Thank you for your attention to this matter.


  15. lbrown59

    lbrown59 Well-Known Member

    This still may not be the dates paid !!
  16. marvin

    marvin Well-Known Member

    Mike: It has to be accurate info.

    It says that reported information has to be complete and accurate. If you are 2 days late, and they report it as 30 days late, is it being reported accurately?
  17. GEORGE

    GEORGE Well-Known Member

    Re: Mike: It has to be accurate info.

  18. MikeB

    MikeB Banned

    Re: Mike: It has to be accurate info.

    It is very true that unethical lenders do that crap, and I know one personally. Even scum of the earth DMB never did that crap to me, for what that is worth..
    Anyway, according to my CSC (Equifax) sample report instructions, it states a 1=pays as agrees, and it says 2=30+ days past due. It does not say 0-30 days, and the lender is not authorized to make up their own criteria. If you suspect this is happening, send a verification letter to the creditor asking for the exact dates of deliquency. Maybe the big 3 CRAs have the same criteria for what constitutes a 30 day late. Anyone know for sure? This is definately an issue that the FTC needs to address in future amendments.
  19. Mist

    Mist Well-Known Member

    Re: Mike: It has to be accurate info.

    The 1=pays as agrees and 2=30days late is a reference to their coding

    I1=pays as agreed

    etc., etc,

    Being 2 days late DOES NOT constitute an I2 coding and if some creditor tries to do that and Equifax or any other CRA reports it that way they are guilty of defamation and negligence, respectively.
  20. Mist

    Mist Well-Known Member

    It's the part that says it has to be ACCURATE.

    2 days late IS NOT 30 days late no matter how you slice it.

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