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Damn online billpay killed me

minendo

minendo

Elite Member
For some reason my last month's student loan payment did not go through even though I scheduled it. Checked my balance today and I owe two months plus late fee. 🙁 First time I have ever been late on a payment of any type. Hopefully it does not hurt my near perfect credit score too much.
 
About 5 years ago I worked a help desk for online banking. I can't begin to recall all the names we called people when their payments didn't go through and they didn't bother to check the next day to see if the payments actually went out.

I use online banking/bill pay myself and I log in once a day to make sure nothing is amiss, I'd recommend you do the same.
 
Originally posted by: bunker
About 5 years ago I worked a help desk for online banking. I can't begin to recall all the names we called people when their payments didn't go through and they didn't bother to check the next day to see if the payments actually went out.

I use online banking/bill pay myself and I log in once a day to make sure nothing is amiss, I'd recommend you do the same.
Click to expand...


Yep, online facilitates the ease of checking up on these matters.
 
Originally posted by: minendo
For some reason my last month's student loan payment did not go through even though I scheduled it. Checked my balance today and I owe two months plus late fee. 🙁 First time I have ever been late on a payment of any type. Hopefully it does not hurt my near perfect credit score too much.
Click to expand...
It'll hurt, but only for about 6 months. It will steadily go back up after that.
 
Call up whoever owns the loan and ask them to show mercy. I missed a payment while moving once. The company said they would let that one slide since that was the only late payment from me and it was less than thirty or sixty days late and waived the late fees for me.
 
This is one of the reasons I've never signed up for any online billpay service of any type. I trust myself more than some bank's computers. Good luck with your situation.
 
what school loans do you have?nelent didnt charge me for late fees even tho i was 36days late with first pmt. (even though they didnt have a correct address for me). i was told they dont report it till 90days late :roll:
 
Originally posted by: bunker
About 5 years ago I worked a help desk for online banking. I can't begin to recall all the names we called people when their payments didn't go through and they didn't bother to check the next day to see if the payments actually went out.

I use online banking/bill pay myself and I log in once a day to make sure nothing is amiss, I'd recommend you do the same.
Click to expand...

Had I had a constant internet connection I would have done this. Been making these payments for over two years now and have never had a problem until now.

Furthermore, I should not have to check back daily to make sure your system is working properly and accepting my payment.
 
Originally posted by: minendo
Originally posted by: bunker
About 5 years ago I worked a help desk for online banking. I can't begin to recall all the names we called people when their payments didn't go through and they didn't bother to check the next day to see if the payments actually went out.

I use online banking/bill pay myself and I log in once a day to make sure nothing is amiss, I'd recommend you do the same.
Click to expand...

Had I had a constant internet connection I would have done this. Been making these payments for over two years now and have never had a problem until now.

Furthermore, I should not have to check back daily to make sure your system is working properly and accepting my payment.
Click to expand...


You shouldn't, just like you shouldn't have to worry about alot of things, but we still do. Dang, I need to go check the air pressure in my tires.
 
Originally posted by: blurredvision
This is one of the reasons I've never signed up for any online billpay service of any type. I trust myself more than some bank's computers. Good luck with your situation.
Click to expand...

I guess I trust bank computers more than I do the USPS and the person on the receiving end processing the checks.

*shrug*

I haven't looked at the legal mumbo jumbo you agree to when using online bill pay, but I'm assuming that the bank has gone to every extent possible to absolved them of any responsibility when using the system.
 
Originally posted by: zanieladie
Oh that sucks. Looks like you are going to have to double-check the payments from now on. Good luck! 🙂
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Actually, more like I am going to take out a different loan to pay this one and pay the interest to someone else.
 
Originally posted by: vi_edit
Originally posted by: blurredvision
This is one of the reasons I've never signed up for any online billpay service of any type. I trust myself more than some bank's computers. Good luck with your situation.
Click to expand...
I guess I trust bank computers more than I do the USPS and the person on the receiving end processing the checks.
Click to expand...
That's true, but I guess I forgot to mention that I pay all my bills online with my credit card. I'm still relying on computers, but cutting out the middle man. Atleast I have faith that I initiated the transaction on time without having to check my account every few hours. With all my bills, I get an authorization number, so that means the company will have a record of it.
 
I have been late on like 4 payments, never had one penalty against me. They even said they never report to the credit bureau unless it goes months without being paid. FTW
 
Originally posted by: minendo
For some reason my last month's student loan payment did not go through even though I scheduled it. Checked my balance today and I owe two months plus late fee. 🙁 First time I have ever been late on a payment of any type. Hopefully it does not hurt my near perfect credit score too much.
Click to expand...

this happened to me too. my credit score rebounded fine. i don't think it was even officially reported.

 
It won't appear on your credit report unless it is over 30 days past due. If you make the current payment on time it should never show up on your credit.
 
Contact whoever was in charge of submitting the payment and have them contact the loan company ( if it's a 3rd party). THey shoudl take care of the late fees for you and work out having anything removed from your record.
 
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