Reporting late - Loan Modification Forum

azpoor · 05-04-2009, 09:39 PM

I haven't missed a payment yet but I might this month. Will my bank report me as late to the credit bureaus on May 16th(day they add a late fee) nad drop my FICO or on May 31st when I am 30 days late?

Moe Bedard · 05-04-2009, 09:44 PM

The credit bureau reporting system is in 30 day increments........so they would report late after a 30 day, 60 day, 90 day, 120 day, and so forth.........so they are unable to report it late to the credit bureau until it gets to day 31.......then it would be reported 30 days late.

azpoor · 05-04-2009, 09:54 PM

Thanks ***! Also, have you heard if most CC companies are closing down good accounts due to them finding out about a foreclosure?

05-04-2009, 09:39 PM	#1 (permalink)
azpoor Senior Member Join Date: Apr 2009 Posts: 60 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Reporting late I haven't missed a payment yet but I might this month. Will my bank report me as late to the credit bureaus on May 16th(day they add a late fee) nad drop my FICO or on May 31st when I am 30 days late?

05-04-2009, 09:44 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Reporting late The credit bureau reporting system is in 30 day increments........so they would report late after a 30 day, 60 day, 90 day, 120 day, and so forth.........so they are unable to report it late to the credit bureau until it gets to day 31.......then it would be reported 30 days late. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

05-04-2009, 09:54 PM	#3 (permalink)
azpoor Senior Member Join Date: Apr 2009 Posts: 60 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Reporting late Thanks ***! Also, have you heard if most CC companies are closing down good accounts due to them finding out about a foreclosure?

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