Late Payment for a loan

Ebe_Scrooge

HENRY78 wrote: »

The other answers were false and I question their expertise.

So why the hell are you asking for advice on here if you are so sure the advice you've received is wrong ?????

And to be clear - no-one on here (with possibly the odd exception) professes to be an "expert". Simply people with plenty of real-world experience who freely give up their time to try and assist others.

Dale Carnegie wrote an excellent book which I suggest you would do well to read.

xlnc99

ZX is correct - its a 30 day cycle. Effectively each lender is different but you have around 30 days. Worst case is before the next statement date if its a phone contract, credit card etc. They usually report when the statement is produced so you always have a bit of time. Loans i believe around 30 days. Either way you always have time to pay at least 10-15 days but more like 30 days. I think if i remember reading there is some sort of rule in which a late payment only gets marked after 30 days of due payment. Google that, i saw it somewhere

But i no from experience of payments to all my creditors its never ever marked late before the statement date of the next payment. So as long as its paid before then. Done it before many times

[Deleted User]

xlnc99 wrote: »

ZX is correct - its a 30 day cycle. Effectively each lender is different but you have around 30 days. Worst case is before the next statement date if its a phone contract, credit card etc. They usually report when the statement is produced so you always have a bit of time. Loans i believe around 30 days. Either way you always have time to pay at least 10-15 days but more like 30 days. I think if i remember reading there is some sort of rule in which a late payment only gets marked after 30 days of due payment. Google that, i saw it somewhere

But i no from experience of payments to all my creditors its never ever marked late before the statement date of the next payment. So as long as its paid before then. Done it before many times

Google returns results from US sites that state 30 days - but that is referencing it appearing on your credit files.

As for how long a company can classify a payment as "late" - as soon as the due date has passed, it's late. End of.

xlnc99

Now, i have seen results from UK sites. I remember researching this many times and there are quite a few links out there.

You are simply incorrect about the late payment, ZX is correct. I wont question anyone if i dont have knowledge about the subject but if i do i will. I know he is right because as i said before ive researched this topic thouughly and ive not only spoken to all my creditors about this who have all confirmed late is not marked as the day after due date but you usually have 30 days from the due date to be marked as late. Some instances they are statement dates which is around 20 days.

But you will never ever get marked as late if you do not pay on the due date. That is a fact

I have done this constantly with all my bills and always make sure its paid before the statement date

sambaird

xlnc99 wrote: »

I think if i remember reading there is some sort of rule in which a late payment only gets marked after 30 days of due payment. Google that, i saw it somewhere

But i no from experience of payments to all my creditors its never ever marked late before the statement date of the next payment. So as long as its paid before then. Done it before many times

EVERYTHING IN THIS POST IS CATEGORICALLY NOT TRUE.
I note the OP has given thanks to this answer, as it probably fits in with his weird belief, but I find myself making this post in case someone else searches for this topic. This guy has a history of spewing absolute nonsense, and if you care take take a look at his previous posts... clearly doesn't know his a*** from his elbow. OP you'll be in for a shock if you follow his cluelessness.

[Deleted User]

xlnc99 wrote: »

Now, i have seen results from UK sites. I remember researching this many times and there are quite a few links out there.

You are simply incorrect about the late payment, ZX is correct. I wont question anyone if i dont have knowledge about the subject but if i do i will. I know he is right because as i said before ive researched this topic thouughly and ive not only spoken to all my creditors about this who have all confirmed late is not marked as the day after due date but you usually have 30 days from the due date to be marked as late. Some instances they are statement dates which is around 20 days.

But you will never ever get marked as late if you do not pay on the due date. That is a fact

I have done this constantly with all my bills and always make sure its paid before the statement date

Check the forums - there's plenty of posts that state otherwise.

People posting in mass panic as they missed a credit card payment the previous month, rectified the payment the next day and then received a late payment marker on their files.

And really, your research? Like default removal loophole research and CCJ overcharged interest research?

Hmm... :rotfl:

xlnc99

I do not belive for one second someone as been marked late by missing their payment by one date. Ive not seen any posts like this, maybe post one link?

If they have, they can easily get this overturned because its simply not allowed. You have window which again as said before is 30 days but sometimes statement date for next bill.

Yes my research which has up to this point has helped me a great deal

Willing2Learn

xlnc99 wrote: »

If they have, they can easily get this overturned because its simply not allowed. You have window which again as said before is 30 days but sometimes statement date for next bill.

Where do you get this stuff from?? They get the negative marker removed as a gesture of goodwill. The forum is littered with such cases. After all, one day late is a breach of contract...

xlnc99

Ive got it from online, its out there. I cant remember but at the time i was researching it it is 100% true. I also know this from experience because i always after the due date, in most cases a good 15 days but i play it safe and do it before the statement date of the next bill. Never been marked late. Ive spoken to all my creditors who have said the same thing. 30 days or statement date.

I keep hearing about these examples on the forum but ive looked any not seen any threads as of yet. I will eat my hat if someone has been marked late for one day late payment as its simply not going to happen

[Deleted User]

xlnc99 wrote: »

I do not belive for one second someone as been marked late by missing their payment by one date. Ive not seen any posts like this, maybe post one link?

If they have, they can easily get this overturned because its simply not allowed. You have window which again as said before is 30 days but sometimes statement date for next bill.

Yes my research which has up to this point has helped me a great deal

Why is it not allowed? Late is late. Even one day LATEr is LATE - it's in the word.

Your research must have helped you out to a great deal so far - so why are you in such a pickle yourself?