I live in Colorado and I have a car loan with Santander Consumer USA.
My payment due date is the 15th of every month. Over the past 2 years I have been paying this loan 2 or 3 weeks late. There have even been quite a few times when I paid the note on the 14th of the following month, which is still a day before my next payment date.
Well I recently ran my credit reports to check my score (I want to sell my home and purchase another one), and it turns out Santander has been hitting me with a 30 day late payment when I pay on the 14th, 4 weeks after my due date.
I thought 30 days late meant you payed after your NEXT pay date, regardless of how many days are in the month. I’m sure they wouldn’t allow me to pay my February 15th payment on March 16, which is only 29 days past due. (Even though that would be one entire payment past due.)
Can a company report you 30 days late even if you pay before your next payment date? For example, if I have a payment due on Jan 1st that I don’t pay until Jan 31st… that is technically 30 days late, but I am still making payment before my next payment due date of February 1st.
I’ve already tried to dispute the 30 day late rating, but Santander won’t change it- what can I do?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Santander Consumer USA Says My Car Payment is Late and I Say It's Not. - Kelly by Steve Rhode