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30 day lates


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I am confused about how creditors determine and report 30 day late payments.

I am currently being reported 30 days late by Ford Credit and have disputed this with the credit bureaus as well as with Ford. My payment was due on the 15th of March and was not posted until April 14th. Obviously the payment was late but not 30 days late as the due date is the 15th. I was informed by Ford credit that the due date has no relevence that it is actually calculated by calander days. However, I sold several properties in February and there was a problem with the wiring of funds to one creditor so they did not receive payment until March1st. This is also reporting late but it was not 30 calander days.

So, my question is, what are the rules involved here? Do different companies have different rules for late payments? And as a consumer how do I find out this information? I have spoken to the FTC and they can not answer this question.

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I understand that the 14th would have been the 3oth day however if you apply the same principle to the mortgage then the payment would not have been 30 days late. So, does anyone know what the rules are for reporting late payments ie.. calander days or due dates etc. From my research this is a gray area.

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