Default?

Doglover

Hi all, probably an obvious answer to this but it's not one I know. Is there a difference between a default and a late payment? I have two late payments (of a couple of days on each occasion) and wondered how much this would impact on any credit application.

Any help and advice would be appreciated.

Thanks

VIGILANT22

3 non payments in succession then goes into default

VIGILANT22

Why are you paying late and allowing it to effect your credit file?

Conrad

1 or 2 slightly late payments on say a credit card will have no real impact, but a pattern of lazy paying, or where the late is more than 1 month overdue will have an impact as lenders will think you cannot pay current commitments on time, so you might not pay a new mortgage on time.

Some people says it's not thier fault, but underwriters will not agree with this as they will argue they never pay late themsleves despite lives inevitable ups and downs.

Doglover

Hi, thanks for the replies. I'm not actually intending on applying for credit anytime soon - I just wondered how much of an impact my silliness will have. I totally accept that the late payments were my fault and I was lucky enough that on the second occasion the fee was refunded. They were simply admin errors on my part and something that I will not do again.

Thanks for clearing things up for me.