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Paintcowboy

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Creditor reporting wrong
I paid a furniture payment that was due on the 7th, on the 18th. The creditor reports that it is 30 days late. The response I received from them was their billing cycle runs from 17th to 17th if not paid by 17th it's reported late. How can 11 days late be considered 30? Is this a correct process?

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Yes.  The 17th is their 'closing' date which is when they total all charges and subtract all payments before sending out the bill.  It takes time to do that, which is why the due date was on the 7th.  You not only did not pay BY the due date, but paid one day after the next billing cycle began, so that's a month.

To avoid future hassles and improve your credit, just make sure you get your payments in BEFORE the due date.

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