Number of times in arears

auctionier12

How many months can you be in arears before creditor take action? Do you get any notice? or do you hope you don't get that far?
auctionier

jonesMUFCforever

Most would take action IMO if you get 3 months or more in arrears.
It will depend on the type of credit and the amounts involved - perhaps more information would get you a better answer.

bengalknights

Usually 3 months

auctionier12

Its one of the major bank Credit Cards. I'd been in touch last November about sorting out a direct debit. And they were going to put the account to collections. I left it and haven't persued committing to direct debit while I was in a position to earn extra money coming up to Xmas. But now that I've had insurance to pay I cannot make up the difference and falling short of minimum payment. And got one or two other bits to pay like medication and car tax. I guess its about time to arrange a direct debit then. I should have an extra one off job by now, but that hasn't materialised yet, so I shalln't get to earn extra until perhaps October. I'm sure the situations the same scenario for many.
How bad are collections I mean are they damaging or discrediting (for a want of a better word)
Take care

bigadaj

Sounds like you haven't paid this for months, so you'll be having £12 per month payment penalty, interest at 2% per month and multiple missed credit markers on your credit records.

Sort this out quickly while you can, it's already cost you a lot of money and severely damaged your ability to get any future credit.