"Late Payment" on credit rating

pmartin86

Hiya

Sorry if this has been asked before, I did a search and couldn't seem to find anything relavant.

A few months ago I was late on a payment with my credit card, I knew i was going to miss the date by 2 or 3 days and so i went inot the bank beforehand to let them know. I was told that a default charge of £12 would be taken but if I went back to them when the payment was made, they would reverse the charge. This was done, the charge was reveresed and I was happy.

I've recently decided to sign up for Noddle to see my credit score and see if there was any in-accurate information etc, it shows that that months payment was late, if there anything I can do aobut this as it was "pre-arranged" per say? Or should I just accept the blemish and get on with it? Will it make much of a difference to me in the future?

Also, on a related note, my credit rating is poor, which I understand due to me having some hard times latly (All sorted now though hopefully!) How long should I expect to wait before things start improvoing? I'ver reduced my total debts to around £1000 from around £4,500 over the last 3 months and am paying off £500 a month for the next 2 months to clear the last one.

Any help and advice appreciated
Paul.

Tixy

The late payment is a true reflection - you could ask them to move it as a gesture of goodwill, but given they have already agreed to refund the charge they may well not agree to remove the entry.
A single late payment is unlikely to have a major impact after 6months or so.

You say your rating is poor, what exactly does your file show (aside from this one missed payment). Without knowing what issues you have its hard for anyone to advise how long it may take until it improves.

Are you on the electoral roll according to your credit report?
Do you have any other missed payments? any defaults? any CCJs?

pmartin86

I don't plan to apply for anymore credit for a while anywqay so i won't worry about it then My rating is poor, i suspect mainly due to my lack on income for aproximatly 10 months, so iw as living in my Overdraft/Credit card and relying on the odd few hours work I could get and a very generous partner to make the minimum payments for me. No other missed payments, defaults or CCJs. Just the one single late payment, everything else has been kept within the terms of the agreements, although in some case, just barely!

Regards
Paul

fantastiyk

Hi,
I have a friend who went over their limit when the interest was added on. She got a £12 charge. Even though she paid £50 -her minimum payment was £30 she still ended up over her limit by £2 the following month.
I've told her I think this will show up on her credit rating.
My question is how long will this show on her credit rating? I'm trying to get her to see how serious this is so that she doesn't bury her head in the sand until her income improves again.
I have been showing her how to draw up a soa to get on top of this. She has debt of less than £2000 but recently has had a large reduction in her work hours and income.
If she tackles it now she can make sure this is a two month blip rather than an ongoing problem.