I have 1 30 day late on my credit report for my mortgage.?

Question

I have 1 30 day late on my credit report for my mortgage. I paid on the 31st day because I thought that because it was within the month due, that it was still on time. I have never been late on my mortgage otherwise. Can this be disputed?

Answer 1

No, sorry. Despite your intention you were by definition late. I suppose you could give it a shot but once it hits your credit it's going to be tough to have it removed unless it was caused by fraudulent activity.

Answer 2

If your mortgage was due on the 1st of the month and you did not pay it until the 31st then yes you were over 30 days past due. Remember that it is considered "paid" when they process it not when you mail it. So if you mailed it out on the 29th but it did not get processed until the 31st it is late.

You can attempt to dispute it but it will probably come back as verified. What you might want to do instead is talk to the mortgage company and see if they will remove the 30 day late. Don't expect them to, but if you have been a good customer for years they might.

Answer 3

Everybody is right but if you want to fight it. I would go with this.

Interest accrues from the date of initial notification (although it is not actually assessed until the 31st day).

Thats how your payment works. You can fight this saying I paid when it was suppose to be paid. They will say you were 1 day late. You are 30 days late. You can fight it, but if I were to fight it I would debate that one thing. Your initial notification is your due date, but its not assessed until the 31st day. So why does it change if you pay it on the 31st. It doesnt. You are still 30 days late, but you could debate that as your confusion.

Good Luck. I hope you win. Thats the best reason that I can think about for this situtation. It can be exteremly confusing to the borrower. They have the power to take it off, just give a damn good reason. Thats the best one I can think of. Dont give them more information then you need too. Just get in a huge debate with your mortgage company why you are 30 days late. Give them the example why you are not 30 days late, when really you are. Ask them to explain it to you. Using the example above.

Confuse the hell out of the 8 dollar an hour person that can take it off your credit.

Its a loop that they are not trained for. use it. They will take it off just to get you off the phone.

Here is what you say... *but my payment is based on this pay date (which is 31 days) when I made I payment I was right on, who can I be late? Please explain this to me or take it off my credit.* Thats all you say other then admitting you were late.

We all know you are late, but dont accept you are late tell them to figure out why you can be late when you payment is exactly what its suppose to be on that date.

Debate them. You are going from 30-31 days on your interest. Dont tell them anything. But you are up agaisnt somebody that makes 8 bucks an hour. Sadly 99% of loan officers dont even know how interest is calculated. If they cant explain it, the person on the other side of the phone cant either.

You win.

Answer 4

If this was the first time it happened, then you might be able to talk with someone at the bank. They are people. Your chances are best if you have been a long time customer, and they have the discretion to take it into account. Remember, the payment is DUE and PAYABLE on the first day, and the rest of the time is a grace period, so you were not 1 day late, but technically 30 days late. In the future, if you are near the grace period, and there is a bank in the neighborhood, walk it into the bank, and when you get your receipt, it will then be paid in and on time.

Keep those receipts. I had a similar situation, but I kept the receipts, and showed them to the bank, and got all three of my late payments rescinded.

Answer 5

Probably not, but not to worry. A single blip on your credit history won't have much of an effect. You are entitled to write a letter of explanation to be placed in your file; but frankly, they are never read. It's all about the score, these days. The actual facts of your credit history are never even reviewed.

Answer 6

You can contact the credit reporting agencies, explain your misunderstanding of the payment terms, and they MUST put your letter into your file and include it when reporting your late payment. Continue to pay in full and on time to establish excellent credit for the future.

Answer 7

The way to attack this is with your lender.

If you have been a good customer and have a good pay history simply call their customer service department and see if they will remove the late pay from your report.

Answer 8

No it can't. All bills have due dates and you are expected to pay them before the due date. Why would you think that you had all month?