How long do you have to be late before your loan company can hit your credit report?

Answer 1

.......................I WORK FOR A MORTGAGE BROKER AND I DEAL WITH PEOPLE's CREDIT ALL THE TIME...............

They can't report you unless you are 30-days late. For example, if your bill is due on the Oct 1st but you don't pay till Oct 15....the credit card company can't report you to the credit bureaus!!!!

ASSOCIATED PROBLEMS
A. Increased Interest Rates
They can report you as late within their own company (not the credit bureaus) which can cause for your interest rate to skyrocket.

B. Charged Late Fees
They can charge you a late fee. Bankof America charges around $30.00 per late fee...don't expect a grace period with BofA but if you call in and say that you sent it and just keep that argument firm they should remove the late fee

.....SOLUTIONS AND ADVISE
1) Do know that although your interest rate will sky rocket this only affects you if you have a balance with that credit card at the end of the month...but if you have a zero balance that high interest rate can't affect you

2) Know that most credit card companies will hit you with an interest rate for only 6 months

Answer 2

Your credit report categorizes debts as current, 30-60 days late, 60-90 day late, etc. Therefore, anything under 30 days will not show on your report even if it is reported.

Answer 3

They can't REPORT you 30 days after being late, they can report you for BEING 30 days late. They report 15 days after the 30 day late period has expired. This doesn't mean you have to be late for 45 days total to get reported, it just means their is a lag between when they can report and when you are late.

Answer 4

30 days after the due date is considered late. the next day, or the 31st day they haven't received payment, you're credit gets tagged.

Answer 5

I think 30 days

Answer 6

Generally about 30 days... but if you are frequently late on your payment they will state that on your file... slow pay..

Answer 7

one month late