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Dwayne B.
Dwayne B., Attorney
Category: Legal
Satisfied Customers: 32367
Experience:  Began practicing law in 1992
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I have a vehicle which is financed through a lender. Some

Customer Question

I have a vehicle which is financed through a lender. Some time ago I had a financial hardship and had a hard time paying bills. After discussing this with the lender, they agreed to take my current payment due and move it to the back of the loan term, essentially allowing me to skip a month but not be behind. Now that I have moved forward with this, the lender now claims I am a month behind on payments and that I am also being charged late fees...$300 of late fees. This has been going on for several months and in their eyes I am always behind on the payment that they granted me. They are adversely hitting my credit every month. More than anything I want this mess to go away, and I am about to pay the current payment and "missed payment" per their records. However, I refuse to pay pate fees on an extension that I was granted and the lender refuses to waive these fees. My question is if I am current on payments but behind only on "fees" can the lender still legally report me negatively to credit agencies? If it makes a difference, I am in Florida
Submitted: 10 months ago.
Category: Legal
Expert:  Dwayne B. replied 10 months ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts.

Yes, the lender can still report you negatively. They can report there is a balance owed and a late fee although they can't report the late fee as being a late payment. There is a specific code they use for when you have late fees owed that you have not paid.