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Loan w/ Zero Balance but has Late Fees

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Question: 
We have a loan that is paid to a $0 balance. However, there is a large sum of late charges owed. Can late fees be reported as a delinquent/past due status to the credit bureau?
Answer: 

It will depend on when the payment for late charges are due under your loan agreement.

Amount Past Due

Report the total amount of payments that are 30 days or more past due in whole dollars only. This field should include late charges and fees, if applicable. Do not include current amount due in this field.

First published on 09/27/2020

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