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You are here:  Experts > Shopping > Credit/Debt Management > Creditors and Bankruptcy Q`s > Late car payments

Topic: Creditors and Bankruptcy Q`s



Expert: Ontrack Financial Group LLC
Date: 9/25/2007
Subject: Late car payments

Question
I recently paid my two car payments through my bank's "online bill pay" Well, either they or the bank on the receiving end took to long to process the payment. So no I have TWO late car payments!(I've never had a late payment with anything,ever) But they are like ten days a piece,but also enough to get charged late fees. So I was wondering if they will be on my credit report. I was thinking, (or hoping I should say) that they only report thirty days,or more. Because when you look at your credit report those are the only bench marks they have. Thanks for taking the time.

Answer
Jessica,

The late payments should not show on your credit report.  There is a much larger issue here.  The receiving bank has a fiduciary duty to credit your payments in a timely manor.  If they are a national bank I would like you to look at this web site.  http://www.occ.treas.gov/customer.htm   This is the Gov agency that regulates the national bank industry.  If not i would like you to contact your states banking department, and let them know what's going on.

Good Luck

Eddie

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