When is a payment considered late?

Discussion in 'Credit Talk' started by Phreedom, Aug 19, 2003.

  1. Phreedom

    Phreedom Well-Known Member

    I've got a few 30 days on my car payment. Two of them I made before they were actually 30 days. Are there any laws pertaining to when a payment can be reported as 30 days late? Thanks !

    GEORGE Well-Known Member

    11 am on the DUE DATE CAN BE LATE...

    Since the CRA only reports 30-60-90-120-120+

    1 day late is 30 days late ("IF" they choose to report it)

    GEORGE Well-Known Member

    For some odd reason...they WON'T report 14 min late...3 days late...17 days late...

    30 days late is FINE FOR THEM...

    ...so if you are going to be 32 days late...you might as well be 59 days late...(I GUESS)

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