Can changing your re-payment date affect your credit file?

jolfc

Hope someone may be able to help. At the moment my payment date is the 17th of each month and has been since taking my loan in 2007 for my car with Black Horse. When my wage goes in on the last working day of each month it sits in my account ready for the 17th of the next month. Anyway my car needs some work doing on it and I was thinking that I may be able to ring Black Horse and ask them to change my payment date to the last working day of the month. I have already paid on the 17th April, if they agreed to this the next payment would be a direct debit on the 31st May instead of the 17th May,therefore using Mays wage not Aprils to pay it. Would this be classed as an arrangement to pay or a late payment on my credit file as everything is green on my credit agreements and I dont want to jepordise that, my last payment is due in September this year, :T:T. Any help much appreciated.

opinions4u

It depends on the lender.

It's easy to say, but anybody running a car should really be setting money aside for things like this.

The one inevitable thing about running a car is an "unexpected" repair bill.

jolfc

opinions4u wrote: »

It depends on the lender.

It's easy to say, but anybody running a car should really be setting money aside for things like this.

The one inevitable thing about running a car is an "unexpected" repair bill.

I understand this, but due to my partner having had a heart op we have had no spare money as he is self employed, anyway he is now back at work and all is getting back on track, :T . Thank you for your answer, would Black Horse tell me if it would affect the file?

opinions4u

jolfc wrote: »

I understand this, but due to my partner having had a heart op we have had no spare money as he is self employed, anyway he is now back at work and all is getting back on track, :T . Thank you for your answer, would Black Horse tell me if it would affect the file?

they should do. They may also charge an extra few days interest too. Good luck.

Apples2

Or they might take payment on 17 as normal, but then take another payment on the last working day.

I can't see them giving you a month payment break for nothing.

jolfc

Apples2 wrote: »

Or they might take payment on 17 as normal, but then take another payment on the last working day.

I can't see them giving you a month payment break for nothing.

I may be a bit slow here, but if they have a payment already for April the next payment would be due in May and paid on the 31st May would there have been a month of payment break as it is still being paid within May??? Like I say I could be confused.

Apples2

You're paying this loan back Monthly (30-31 days between payments).

Your payments at the moment are 17th until 17th.

If you don't pay on 17th but delay it until 31st, you would having a free period (between 17-31). You would have missed your contracted Monthly payment.

Your new payment, even though it is being made on 31st, would still essentially be paying from 17th as that is when the last payment was made. They are unlikely to simply write off those two weeks.

A lot of people do this and get quite grumpy when they find a second (albeit reduced) payment coming out on that last day of the Month.

stig.of.the.dump_2

Hi Have you thought of asking them for a payment break ?? as some companys allow this not sure as to consequence.

JSH_2

Apples2 wrote: »

You're paying this loan back Monthly (30-31 days between payments).

Your payments at the moment are 17th until 17th.

If you don't pay on 17th but delay it until 31st, you would having a free period (between 17-31). You would have missed your contracted Monthly payment.

Your new payment, even though it is being made on 31st, would still essentially be paying from 17th as that is when the last payment was made. They are unlikely to simply write off those two weeks.

A lot of people do this and get quite grumpy when they find a second (albeit reduced) payment coming out on that last day of the Month.

Black Horse would be likeley to change the date for you no problem. You would be charged additional interest for the 2 week period that you are extending the loan (ask them what the additional charges would be)

It's hardly a payment holiday is it? It is a very common request and is usually granted without any fuss.

Assuming that BH are agreeable, you will not get a late payment marker.