Minimum payment

mark1966

Hi

A friend of mine has an account with very.She pays the minimum payment each month.

Last month she missed the due date by a few days but has now paid the arrears.

This months statement they have added the £12 default charge onto the minimum payment that is due.So her minimum payment this month is about an extra £10.

Are they allowed to add default charges onto a minimum payment.?

budget_2

I am almost certain this is correct it has happened to me on occassions, your friend could speck to the company but if she also reads the small print on the back of her statement it should say.

hope this is of some help

Oneday77

In short yes.
The T&Cs will say that if a due payment is late it will be liable to a charge. This is standard in all credit accounts. It doesn't matter if your paying minimums or full each month either.

budget_2

thanks for that oneday77 i thought i was right but wasn't sure.

heatherks

is this is the first time it has happend she could phone them up and see if they will refund the charge as a a goodwill gesture ...say it was an oversight forgot to pay ..

.but it clearly states they can charge id payment isn't recieved before due date think its 4 for bank /card payments & 7 days for cheques /postal orders

WASHER

The actual words are "you may be charge a late payment fee".

Phone them or better still write to them and tell them it was an oversight, and set up a direct debit at the same time to avoid this happening again.

DarkConvict

As above they might waive the charge for a first offence, but i would address the concern of making minimum payments (if possible)... They take many many years to pay off.