Thursday, November 26th, 2009

How late on a car payment can you be before they report to the credit bureau?

late payment
Sissy asked:


It will be 20-25 days late before I can pay my car payment this month, does anyone know how long they wait before reporting to the credit bureaus? This is my second late payment, which was last month, but was only a couple days late. These two months are the only times we have fallen behind in the year and a half we have had the vehicle. I appreciate any input you may have. Thanks!

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4 Responses to “How late on a car payment can you be before they report to the credit bureau?”

sassy2 Says:
November 28th, 2009 at 4:53 am

Read your loan contract. Usually says 10 days. Call the lender and explain you will be late and will pay the late fee.

Ankit Says:
November 29th, 2009 at 11:06 am

i don’t think it will impact on your credit rating as far as your are paying the installments regularly.late payments and non payments are two different things. you may be charged extra for late payments or bounce of cheques and if you not pay these extra amount than it could be reported to the credit bureau.

stan c Says:
November 29th, 2009 at 8:02 pm

As long as it’s paid under 30 days you’ll be fine. If you had the loan for about 12 months, perhaps you can get a 2 month deferment on the car loan. Just tell them you need it due to medical expenses not covered by your insurance.

Help Is Here! Says:
December 1st, 2009 at 3:31 pm

Usually 30 days.

Credit bureaus do not have a column for 10 day late pays.

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