Customer is more than 30 days late. It was reported to the bureaus as late. We granted a payment extension for that delinquent payment. Does it still get reported to the credit bureaus as delinquent 30 days? or don't report because it was extended and no longer considered late? I know we couldn't report it as delinquent during Covid-19. I couldn't find anything on FCRA, other than COVID section.

Thanks,

You report based on the legal obligation. If you agreed to extend the payment, how were they late?

That's what I was thinking but officer is stating that since they were late before they came to apply for the extension, we should report it as delinquent. Thank you.

Did you back date the modification? The legal obligation is what it is. But this is going to be based on the facts and not generalities. If you have questions on the customer's legal obligation after a modification you should be talking to your legal counsel. If you agreed to extend a previous payment after the fact rather than establishing a revised future payment stream obligation, then how were they late? It is all going to come down to what the legal documents say and what you did.

The extension agreement was not backdated. it states the original due date 7/2022 is extended to 9/2022.

Thank you

You stated "officer is stating that since they were late before they came to apply for the extension" - so what I meant is whether or not you retroactively modified the contractual terms, which it appears that you did.

Thank you.