Automatic bill pay question

Automatic bill pay question
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#1

I set up automatic bill pay threw Chase, for a Wells Fargo account I owe and since it has started they have reported me to the credit bureau 1 time as 30-60 days late because of fees and charged me two times for late fees. The payments were sent by from my acount at Chase bank, to their acounts on both occasions, before the due date, but were not processed by WF until after the due date, and fees were assessed. Each occasion the due date fell on a Sunday, and the most recent one was processed after Monday, Columbus day. My bank provided me the proof that the drafts were sent to the account, before the due date, and a statement which reads, it is not the fault of the customers if the process is hindered by ie, mail or bank processing speed. This has adversely affected my credit score/rating and I have had to pay additional fees. I have contacted WF and requested an analysis and have agreed to have the bill be set up through their bank.

Do I have any ground regarding the credit report dispute and late fee recovery?


#2

Hi @jwaldele, thanks for joining our community! :tada:

Oof this is an unfortunate situation. It sounds like Chase may have been generating a physical bill pay check and sending it via snail mail to Wells Fargo each month. Resulting in delayed processing times.

Setting up the auto pay through Wells Fargo directly was the right move here. And as far as recouping late fees you’ve incurred, this is something Wells Fargo would have to determine. If you haven’t done so already, try explaining the situation to a supervisor or manager. The following resource contains tips and strategies to help frame the conversation: Winning Strategies for Getting a Credit Card Fee Waived.

Something doesn’t seem quite right about the negative credit reporting - it shouldn’t take more than 30 days for a payment to be received and processed, especially if it was sent out well in advance of the due date.

You’ve taken the right step by requesting an investigation/analysis, and I would probably suggest waiting to see if it amount to anything before escalating it further.

Best of luck, and keep us posted!


#3

I try to practice making credit card payments 1-10 days prior to when it is due. On that date I pay before the true due date I will pay the full balance. I do this for the same reason of your SNAFU, (Situation Normal All F****D UP). Creditors for any variety of reasons can or willfully postpone due processed payments including time of day, holidays, glitches, etc. In the future practice making 2 payments per month. I have all card balances set to pay statement balance on the due date. I then try to regularly go into each account mid-cycle, (15 days), and pay the full balance due at that time. When the true due date comes, my bill is already half of a 30% usage or 15%. IE. $1000 card = $300 credit/30% = $150 balance. I try to never use more than 30% of any card and try to keep balances at 15% on a bimonthly payment schedule.


#4

I’m much more cautious. I pay online the day after the new statement is printed, and I follow up just to be sure. If there is a hiccup I can resolve it well before the due date. I have built in redundancy as well, as I have my accounts set up for auto-pay, which defaults on the day before the due date.

I hate to say it OP, but you didn’t due your due diligence. How in the world did you allow it to get to 60 days past due. Lesson learned.

My suggestion at this point is to write a brief but detailed note as to what happened and send it to the credit reporting agencies. Ask them to add it to your credit report. They will do it. And, it will help, not your credit score, but with lenders better understanding the late payments.