Posted on: 19th Sep, 2011 11:17 pm
Hi there… I'm 30 days late on my car payment. However, I have paid the car loan on the 30th day delinquent. I'm not sure how the lender will deal with that. Will the lender report this late payment to the credit bureaus? In the recent future, I am planning to take out a FHA or USDA loan. Will this late payment ruin my chances for another year?
Hi Johanna!
Welcome to forums!
Normally lenders don't report 30 day late payments. Now it will depend upon the discretion of your lender whether or not he will report the same to the credit bureaus. If late payments are reported to the credit bureaus, then it may ruin your chances for getting a mortgage to buy a new home.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Normally lenders don't report 30 day late payments. Now it will depend upon the discretion of your lender whether or not he will report the same to the credit bureaus. If late payments are reported to the credit bureaus, then it may ruin your chances for getting a mortgage to buy a new home.
Feel free to ask if you've further queries.
Sussane
Most lenders wouldn't report this as a 30-day late, but you never know. If they did, it could hurt your FICO score quite a bit assuming you already have good scores.