Late Payments

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

  1. Maer

    Maer Well-Known Member

    I agree. Victoria's Secret has reported me 3 days late when I was only a day late. I have fought this with them and with the bureaus. The credit bureaus say it was verified and I need to contact them. They say that is how they report. This is their criteria:
    1-29 days = 30 days late on your report
    30-59 days = 60 days
    60-90 days = 90 days or whatever it is they do at that point. So even if you are exactly 30 days late, they will then report you as 60 DAYS LATE!!!!! Can you believe that crap!!!!
    I wrote a letter via planetfeedback some time ago, still no response.
    Oh by the way, this was 4 years ago. 3 years ago I filed chap 7. This is the ONLY late payment on any of my credit reports. The number one reason for not scoring better was: Time since last delinquency!!!!!!! #2 was my b/k
    Oooohhhhh I get riled just thinking about it.
    So for those who just got a Victoria's Secret card BEWARE!!!!
     
  2. Mist

    Mist Well-Known Member

    Maer,
    Don't just get riled...do something about it. Write to them and tell them their "method" of reporting is defamation. Tell them you will file suit and if they think their position is so strong, that they shouldn't mind the prospect of having it sorted our by a JUDGE! Tell them that you will also report them to the FTC, your state's AG, senators, congresspersons, etc., etc. Mention all the damages they may be liable if the JUDGE rules in your favor such as less desireable terms for any credit you've applied for SINCE they first reported this way not to mention attorney's fees. Make sure they know you mean business and that you plan to leave no stone unturned and will exhaust every avenue available to you to seek a satisfactory outcome and/or retribution for their despicable actions.
     
  3. sam

    sam Well-Known Member

    My understanding, is the bill is due when the statement posts, and the grace period extends 25days towards the 30 day late point.
     
  4. rubyjean

    rubyjean Well-Known Member

    This is the way that you would get a 30 day mark on your credit card.. First of all if a payment is 2 days late, it is just that.. late.. you get accessed a late fee penalty.. This is the way it would be reported.. first of all 5 day late payments are not reported..
    Bill that is due on Bill for Dec.. Due on Jan 2.. Payment is late by two days.. Late fee accessed .. same scenerio.. Bill for Dec Due Jan 2, Did not pay in Jan.. Paid on feb 2 .. This is when it is reported as 30 days past due..
     
  5. MikeB

    MikeB Banned

    The DUE DATE is listed on the statement and has nothing to do with any grace period or when the statement is posted or printed.
    On installment loans, you will typically have a due date, and then a grace period following the due date before a late charge is assessed. The grace period on revolving accounts is so you can pay the entire balance before the grace period is up without been charged finance charges. Right?
     
  6. Maer

    Maer Well-Known Member

    I did include much of that in my PFB letter. It has been a couple of weeks now and of course I received no response. I also sent a complaint to the FCC and only recieved their automated response. I also called them and asked them nicely to remove it and they refused. I think they kept a record of the numberous times I called there angrily arguing this point with them. Now this may be paranoia on my part but I think they have me flagged at the credit bureaus because every single time I try to dispute it, they reject the dispute saying it has already been verified.
    I have heard from others here and on other boards that this is the practice of many companies.
     
  7. lbrown59

    lbrown59 Well-Known Member

    There are only 12 cycles per year each one is 28 to 31 days!
     
  8. lbrown59

    lbrown59 Well-Known Member

    Due date should be between 1 and 31.
     
  9. lbrown59

    lbrown59 Well-Known Member

    No
    What I am saying is that only allowing 1 day of a month for payment is not sufficent.We should not be penalized for Mail delays and other causes beyond our control!These are not really late charges but payment timing penalties.
     

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