30 days Late Payment

[Compton56]

Iv been battling this car loan late payment with Ally financial for a year now. Iv called and sent dispute/forgiveness letters to Ally trying to get the 30 days late payment removed but they wont budge. I've always paid a lil more then what's due. Because of Covid I looked up the Fair credit act to see if there's protections for us from having negative marks on our credit during the pandemic but still no luck for me. Does anyone have any suggestion for me this is my only late payment.

[MarvBear]

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[centex]

How did the late payment occur?  That says you missed an entire billing cycle and failed to pay all of what the next statement called for.

[Compton56]

I thought I paid the bill for Feb already but didn't realize until March I had missed the payment, I was 31 days late.

[Glacier]

Sounds like you've tried this, but a well written letter to the executive office, explaining how the mistake occurred and what steps you have taken so it does not reoccur (for example, setting up auto pay), may be worth a try.  Not sure how Ally responds to Good Will letters. 

[hdporter]

On 3/17/2022 at 4:07 PM, Compton56 said:

Iv been battling this car loan late payment with Ally financial for a year now. Iv called and sent dispute/forgiveness letters to Ally trying to get the 30 days late payment removed but they wont budge. I've always paid a lil more then what's due. Because of Covid I looked up the Fair credit act to see if there's protections for us from having negative marks on our credit during the pandemic but still no luck for me. Does anyone have any suggestion for me this is my only late payment.

 

It's been reported that the front office CSR's / customer service team will uniformly deny a request for a "goodwill" clear.  CRA disputes typically fall on deaf ears.

 

In such a case, sometimes it's necessary to just suck it up and life with your crap.  We have a 4.5 y/o 30-day delinquency on a BA card (I'm AU) that's been shading our FICO scores.  Fortunately, with an otherwise clean history, it's never had too much impact on FICO 8's and only a moderate impact on FICO mortgage scores.  (Vantage is another story, where our scores suggest that we're just biting at the bit for the right opportunity to further trash our credit [700-730]).

 

The point is, if this is your only derog and you can't do anything about it, don't gnash your teeth over it too much.  By itself, it's not likely to impede your credit applications.  (If there are prior derogs, then it's going to bite a little harder, at least until it's the only derog left on your report.)

 

Still, the separately suggested goodwill request sent directly to an appropriate executive officer does offer an avenue by which you might still clear this entry.  A dive over on the "other credit board" surfaces a post in the last year the reports success with this move after declined by the CSR's and CRA disputes were rejected.

 

Good luck!