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shellee1983

my auto loan company has not been taking the late fees when i call in to pay and is now reporting a full late payment to the credit bureau

5 posts in this topic

My husband purchased a car 3 years ago. Recently the loan company reported to the credit bureau that he was late 60 days.

 

He had been calling in to pay his loan and no one disclosed that he had been paying late and getting a 12 dollar late fee tacked on. I'm pretty sure that this is breaking a law because they reported that he owed 700 dollars more than what was reported to the credit agency.

 

What can we do to get them to rectify this? If they did break a law (aside from the Fair Credit Reporting Act as they have never disclosed he was late or paying late nor have the checked his address to ensure he was recieving notices) what other laws have they broken?

 

Thanks in advance for any advice.

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Start by sitting down with your husband and read his loan contract. See what it says about late fees. If the contract specifies late fees, when and how they accrue then nobody had any legal obligation to "tell" him anything when he called in to make a payment because he has already been given "notice" in the contract itself.

 

In other words (for example), if the contract says payment due on the first or there is a $12 late fee then he "knows" to add the $12 to his payment if he pays late because the contract has already told him so.

 

Sorry, but there were no laws broken.

 

How you rectify this is pay what is owed to bring the loan current and then the entry on the credit report will change from late to current.

 

In the future, make sure he gets his payment to the loan company early enough to get it posted to the account by the due date.

 

 

 

 

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On 12/29/2018 at 1:07 PM, adjusterjack said:

Start by sitting down with your husband and read his loan contract. See what it says about late fees. If the contract specifies late fees, when and how they accrue then nobody had any legal obligation to "tell" him anything when he called in to make a payment because he has already been given "notice" in the contract itself.

 

In other words (for example), if the contract says payment due on the first or there is a $12 late fee then he "knows" to add the $12 to his payment if he pays late because the contract has already told him so.

 

Sorry, but there were no laws broken.

 

How you rectify this is pay what is owed to bring the loan current and then the entry on the credit report will change from late to current.

 

In the future, make sure he gets his payment to the loan company early enough to get it posted to the account by the due date.

 

 

 

 

That cannot be correct. If he is calling in and speaking to someone and asking to make a payment in full I know it is legally their responsibility to tell the person paying and to charge said person all fees associated

 

I do not know what law is associated but I do know one exists because I had a lawyer work my me behalf when something similiar occured to me. I know part is the fair credit reporting act but the fact that he is speaking to a representative and asking to pay all dues associated and they are not charging him is illegal as he is requesting to bring his account to a 0 balance owed each month. It is their responsibility to charge him appropriately. They have not been.

 

Thanks for your comment but I know for a fact you are incorrect. I'll just contact a lawyer. Thanks. 

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1 hour ago, shellee1983 said:

I know for a fact you are incorrect.

 

Maybe yes, maybe no. I wasn't on the phone with your husband when he made the calls. I don't know what he or the other person said. Were you on the phone with him? Did you hear both sides of the conversation? Can you quote word for word what the two of them said?

 

1 hour ago, shellee1983 said:

I'll just contact a lawyer.

 

Good idea.

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Not every time but a few times yes I was present. He asked to bring his bill current. To my knowledge of the English language, that means any and all additional fees that may have been secured, including late fees. 

 

Additionally they are reporting to the credit bureau that he is 60 days late but he has paid his payment each month. So, I'm sorry but there is no way that this can be legal, that's how I know you're not correct. But thank you for your input. 

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