Late payment penalties

stevegrestevegre Forumite
2 Posts
Is there a guide anywhere as to whether late payment penalties are fair? In my case, if I am a single day late making my monthly payment I am charged £50. If I miss the month completely but pay the next month on time, the payment is allocated to the older instalment and another £50 applied - which means there is a late payment every month until the arrears are cleared.

I would be grateful for any advice.
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