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TD Bank - Best Option For Late Payment Report


invstor123
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New here. I have a Samsung TD account that was on autopay with my last phone, I did not notice that it turned off when I got a new handset. Lots of "possible spam" calls I ignored with no messages left, finally pick one up Friday 29th and its a collection agency saying my account is 90 days past due. Ugh! I tell them I had not been opening statements because they looked the same as the ones I got when the account was being autopaid for the past few years, I tell him I get emails from TD bank about this account from time to time but nothing about this, he looks up my account and says he sees my email correctly on file and doesn't know why notice was not sent there. I immediately schedule a payment to bring it current at the td bank portal, and he makes a note on the account . Wake up today to email notices of a delinquent payment report on my credit report and my near perfect FICO is down by 111 points! From one late payment report. The late report appears to have been made after my call with them and scheduled payment entered Friday. 

 

What is my best course of action here? Should I call TD bank and ask for an off-cycle report of the payment? should I dispute it with the agencies and ask for proof of notice of the debt from TD, should I just let the payment go through and wait for it to fall off? Any help would be appreciated. Also wondering if I just let it go through and be reported as paid on the next cycle how slowly my fico will recover?

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3 hours ago, invstor123 said:

Should I call TD bank and ask for an off-cycle report of the payment? should I dispute it with the agencies and ask for proof of notice of the debt from TD, should I just let the payment go through and wait for it to fall off? Any help would be appreciated. Also wondering if I just let it go through and be reported as paid on the next cycle how slowly my fico will recover?

Reporting the payment won't help. A 90 DL will hurt your score less over time, but it will hurt you between 70-100 points for the full 7 years. 

 

You'll want to look into Goodwill letters and try to send one to the TD Bank CEO office. Best of luck. 

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Oh no, that is the worst news! Thank you for your reply and your suggestion. I am using the search function here to pull some sample letters to work from now. If anyone who sees this post has experience they can share with having negative reporting removed after dealing with TD Bank, I would very much appreciate hearing about their process and experience. 

 

Thank you.

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While I don't have an example, a well written good will letter will be to your specific situation, apologize for the oversight, explain what happened, and why it happened (Take responsibility), and list the steps you have taken to assure it will not occur in the future.  

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