Can A Creditor Falsely Report If?

Question

Can A Creditor falsely report to credit bearu if I been making less than minumum payments?

Answer 1

Legally, they can't falsely report anything. If your payments have been less than the minimum, reporting your account as past due is not false. If they have reported false information, dispute the information with the credit bureaus. Be prepared to prove you made the required payments.

Answer 2

In my experience they can. Unless you call and set up arrangements with the person you owe money to they will usually send the bill to collection. The collection agency will usually be more flexible about how much of a payment they will take. Most places like hospitals for instance have a set minimum payment amount for a certain amount of money owed to them and they will not usually stray from that for any reason. They are completely unreasonable most of the time.

Answer 3

less than minimum is still considered, not late, but deliquent. unless you have some deal with the creditor stating that you pay X amount of money per month instead of the minimum amount then it's okay. but they are still in their right to report you for a late payment since the full minimum amount was not received. this amount carries over to the next month and if you fail to pay off that amount, then it carries over and counts as a 60 day late.

Answer 4

Yes.

If you do not make a minimum payment, then you are considered delinquent. Generally they won't do anything about it unless you fail to catch up by the next billing period.