My bank told me it would report my loan to the credit bureau if it ever was more than 60 days past due but they reported the loan at only 30 days past due. Can the bank do this?

Generally, yes, as long as the information is accurate, the bank can report its experience with your loans to a credit bureau at any time. This includes information about loans that you are paying as agreed as well as those that are delinquent.  The only exception is if your account agreement provided that the bank would not report your account as delinquent until you were more than 60 days past due.

March 2010