Car Payment Reported Late for Month of April to Credit Bureau?

Question

Car payment due on the 7th of each month via ACH from checking acct. On 3/7, ACH was returned due to insufficient funds. Attempted to pay Honda Finance this money ($324/mo)online but wouldn't allow me to establ new ACH acct for a 1 time payment. Payment screen was unclear and deceptive where it automatically added the late car payment plus $30 fee for a grand total of $688 as of 3/7. Under this total was a box that stated "ADDITIONAL AMOUNT TO BE PAID". Next to this box had these words italicized "In addition to the scheduled ACH payment". The "scheduled ACH payment" that was shown was $688 (2 months). Knowing I didn't have 600, I waited until the 6th of April when I had extra money to cover just in case it was going to charge $688 instead of $324. Transaction successful only taking $324, with separate ACH for regular monthly payment. Car company reported late because paid on 6th, which is the 30th day. They refuse to remove this transaction given the circumstances. What do I do?

Please answer this question: If the car payment was due on March 7th, what is the 1st date that they can report it late in April if reporting as 30 days late.

Answer 1

You live with it on your credit report, since you were late in making the payment. Finance companies do not care if or how you tried to make the payment. It's YOUR responsibility to insure that it is there in a timely fashion. Sorry to inform you that trying doesn't count as making a payment on time.

Answer 2

Dear Frustrated car owner,
Its an even tougher ride for consumers since the birth of new and tougher laws that give creditors more power to flex.
If its just one late payment on the report,don't fret it none,creditors will overlook one late payment,just don't let it turn into a habit and have more added on. Plan Ahead at all times to maintain your credit rating. I am an Independant Paralegal and know about credit issues and contract law. Chances are high that an additional fee for a late payment may have been in the Installment contract for the vehicle. Always read the entire document.
I just finished writing a mini-E-booklet titled Contract Law For Dummies, no punts aimed your way,lol.
If interested or anyone else,in scooping up a copy for $5.00,send me an e-mail to [e-mail] and shall reply back with instructions using paypal.
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Title the E-mail" Want a copy of Contract Law.
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Scroll down to the word "Sitemap",that will take you to a list of more related credit matters/topics for free. Thank you.
Jeffrey

Answer 3

There really is nothing you can do. You were late according to your contract no matter what the circumstances.

If this is the only late payment you have? I would not worry about it. Just make sure that you make the next 6-payments on time and it really will not make that much of a difference.

Answer 4

Short form: You made a mistake, they reported it accurately, you are stuck with that entry on your report. The good news is, unless there are other negatives on you report, it will have little impact on your score and it will recover quickly. Everyone makes mistakes from time to time, As long as they are infrequent, they won't kill you score.