1 late payment fair?

simon2010

Hi there

I was wondering what people's thoughts were on '1 payment late in the last 12 months' and we won't lend blah blah.

1. What if you missed that payment cause of a holiday?
2. Should one be penalised for a whole 12 months just for being one payment late?
3. Is it really possible to maintain the perfect credit file all of the time?

Just to say b4 the lectures start, NO I am not 1 payment late. But interested to know when do you become 1 payment late, 1 week? 2 weeks? 1 month, 6 weeks etc.

Thanks in advance.

BugsyBrowne

My last missed payment was 1997 and haven't missed or had a late payment since and when I had about 4 credit cards they were set up with a DD and now I just have the one CC which is also on DD.

simon2010

So Bugsy


Option 3 for you then - your perfect.

malkyh

In 18 years I've only missed one payment on a CC which I stupidly thought id paid and only realised I'd missed it when I got a letter with a £12 charge. It doesn't show on my credit file though. I was going to phone and ask for a goodwill fee return as it was a complete accident but I paid the fee to teach myself a lesson for being so stupid.

[Deleted User]

I think it is would be unfair if those who don't miss payments were treated the same as those who do.

simon2010

I agree ZZ81 but for a whole 12 months??? 1 year for a possible oversight???

[Deleted User]

It's only 12 months. It's not a lifetime...

Apples2

simon2010 wrote: »

I agree ZZ81 but for a whole 12 months??? 1 year for a possible oversight???

It does beg a question as to why you are completely unable to go a whole 12 Months without trying to borrow money from someone.

The last time I borrowed anything was a 3yr loan in 2005 for a car. I've never missed or been late for any payments at all. It's what Direct Debits were invented for.

iolanthe07

I agree with Apples. I have never been late for or missed any payment due since I first opened a bank account in 1964 aged 18. It is a question of being on top of your finances and using direct debits and standing orders.

malkyh

Apples2 wrote: »

It does beg a question as to why you are completely unable to go a whole 12 Months without trying to borrow money from someone.

The last time I borrowed anything was a 3yr loan in 2005 for a car. I've never missed or been late for any payments at all. It's what Direct Debits were invented for.

A loan for a car???? Did you REALLY need that car? Couldn't you have just saved up for it? Or bought a banger? :beer:

bargainbetty

simon2010 wrote: »

Hi there

1. What if you missed that payment cause of a holiday? It is your responsibility to pay before you go, or make sure funds are there for the debit.
2. Should one be penalised for a whole 12 months just for being one payment late? You broke the repayment agreement. That gives you a year to rebuild by not missing payments.
3. Is it really possible to maintain the perfect credit file all of the time? If you are lucky and careful then yes, you can. Make agreements that you can stick to, don't take out more debt than is absolutely essential and repay on time and within the terms of the agreement. If your circumstances change (job loss, illness etc), then that's something you deal with as it comes. Complaining because you didn't make sure the payment went in before you had a jolly week away really won't cut any ice.

It's your responsibility. Sorry.