Trial Payments after the 3rd Being Reported LATE - Check your statements

[smit5454]

Chase has me 5 payments late, and the 2 payments after the trial ended as PAST DUE!

I inquired and here is the response I got from Chase.

I am writing ............ the federal Fair Credit Reporting Act and the requirements published by the Consumer Data Industry Association. If you are current when you enter the trial plan, we will continue to report
you as current with a special code, indicating you are paying under a partial payment agreement.

Once you successfully complete the trial plan and the
final modification is effective, your loan will be
reported as current so long as you continue to make timely
payments. We will include the special comment on that
reporting as well for the life of the loan. We reported
you accurately to the credit bureau for the months of
September and October as they are not included in the
three month trial plan for June, July, and August. We
included the special comment "partial payment agreement".


So they are reporting the months after as late?

I just dropped 60bucks which I don't have, and ALL (Experian, Transunion, Equifax, FICO) show me as 5 late payments and $551k past due). Nothing in any of them about some secret code or payment agreement.

My FICO is now in the 500's? When my car lease is up, I guess I'll be biking to work.

[julier883]

These banks tell us what we want to hear, doen't mean they do what they say.

[caldwellb02]

Disgusting. Abolish FICO. Abolish Credit ratings. I never could understand why the people who could most afford a higher interest got a lower one because of their high credit scores.