Should trial payments during loan modification be reported to CRAs

[dksnj]

I posted previously about my loan maturing this past Feb w/a balloon payment due, which I did not have. I was granted a 5 yr modification, with a 6 month trial period from February - July. All of the trial payments were made on-time prior to the due date. However, the last reported payment on my credit report was in March. Are trial payments supposed to be reported? I asked the rep when I called to schedule my August payment, but she said something about once I start with the permanent payments it will resume. Are payments that are not reported or 'no data available' for those months calculated the same as on-time payments. I've worked very hard to improve my credit across the board so want to make sure the payments from April on are reported correctly. Thanks!

 

[Survivor_IN]

This does not sound right. They should be truthfully reporting your payments. Isn't that the point of the Credit Bureaus? Complain to the CFPB. Edit - you may need proof of payment for any complaints, such as an account statement or cancelled checks

 

[dksnj]

This does not sound right. They should be truthfully reporting your payments. Isn't that the point of the Credit Bureaus? Complain to the CFPB. Edit - you may need proof of payment for any complaints, such as an account statement or cancelled checks

Thanks - I did ask when I called back to speak to an Account Manager and pretty much received the same answer. Once I make my first loan modification payment in September, it will be reported. I asked about the months of April - August and he said he believes they should be reported, but will look into it. Once they receive my notarized mod agreement and I make my payment in Sept, I'll reach out to CFPB if it isn't updated to reflect on time payments for those 5 months. Thanks for the response.

 

[faruq]

looks interesting