Late Payment??

[insomniac]

Hey guys,

I miscalculated and forgot that yesterday was a federal holiday. Becuase of this my payment will be late by a day or so (past the 10 day grace period). Should I be worried that something will happen or am I just being paranoid?

[insomniac]

I should have said Mortage payment (this is outside of the plan)

Sorry....

[Tbornetun]

I think you will be fine, you will probably have a late fee though.

[liz417]

I should have said Mortage payment (this is outside of the plan)

Sorry....

Do you still have a "grace period" with your mortgage company while in a ch 13? I've read that the mortgage is DUE by the 1st of every month while in a ch 13....
If you don't mind...who's your mortgage company (maybe that's the difference)...

[laurannm]

The grace period is typically written into the original mortgage note, and that doesn't change even if you are in a Ch 13.

[Flamingo]

The grace period is typically written into the original mortgage note, and that doesn't change even if you are in a Ch 13.

That is correct. What will change is the address to which you send your mortgage payment if you are paying outside of the Plan (will go to their Bankruptcy section). But your due date and grace date remain the same.

To the OP...as hard as it might be to do, during your Plan make sure you pay everything on time. You do not want to be late with anything if at all possible during your Plan years. How you handle yourself during this time is what can make or break you after your discharge as to future credit. There is no excuse for late payments for anyone. Computers can be set with reminders, watches can be set with reminders, your checking account can be preset to send out checks on a certain date via their online checking if your bank offers that service, etc., etc. Budget better to ensure you have the cash on hand to make that payment on time. We were told at the end of our Plan when we refinanced and purchased a vehicle that it was our prior credit prior to filing and also how we conducted ourselves during our Chapter 13 that got us good, lower rates and the approvals.

If you think you are having difficulty making your mortgage payments and on time and that it may continue, contact your attorney.

[insomniac]

Thanks everyone. Your wisdom is much appreciated.

We've never been late before and typically did pay through the bank's auto pay website. In this case we just procrastinated - totally our fault and nobody else's.

[deerme]

Can you make a payment over the phone? That is what I do and they will post it that same day.

My mortgage company was trying to set me up to fail. I got my statements 10 days after the payment was due. I kept records of everything I sent out and when I sent it.

I used to mail a check (first certified, then personal), always mailed it priority and got the delivery confirmation, and I printed off the confirmation and when it was posted online.

Twice my mortgage company tried to get the stay removed because they said I had missed payments. But both were dropped by them because I had all the evidence showing exactly when they received my payments and when they posted them to my account.

After they were forced to drop the second motion; they started to post my payments on the day I call, even if they post it days later it is dated on the day I called the payment in. And a week later I get my statement.

[BigJohn]

We had the same problem with Citi. I told them they signed for it on such and such a date and I really didn't care if they waited 10 days or longer to post it on their system, that is there problem, not mine. One time, the check had actually cleared my bank before the due date and they still tried telling me I was late.

[liz417]

The grace period is typically written into the original mortgage note, and that doesn't change even if you are in a Ch 13.

Thanks for the answering "laurannm and flammingo", I was concerned about this. Our payments were always due on the 1st of the month, but we have a 15 day "grace period" to pay (we've had several different mortgage companies and we've always had the same 15 day grace period)and I always pay within that timeframe, but I think I read somewhere on this forum that the payment HAS TO BE IN on the due date....thanks for the clarification.