If a late payment is reported to a credit bureau is that a violation of an automatic stay?

Answer by  patti (29325)

The contract between borrower and lender states clearly the definition of a "late payment. " While a payment may be two or three days late (past the due date), the account is not report delinquent to the credit bureaus until the payment is at least 30 days late. Most lenders do credit reporting once a month.

Answer by  worker2746 (2434)

A late payment can be reported to a credit agency even if you have an automatic stay on your credit report. Any retailer or business can report a late payment at any time - this is one of the tricks they have to make you pay. Pay the bill and call the agency to have removed.

Answer by  Travis404607 (3916)

That is not a violation of an automatic stay, since late payments are one of the reasons why credit scores and credit bureaus exist, to keep track of such things.

Answer by  withsmluck (793)

The only reason to have an automatic stay is if you have declared bankruptcy. If you have a bankruptcy, then the automatic stay should protect you from actions by creditors. Your assets and debts are put together under the court and should be dealt with there.