Do credit card companies have to notify you when payments are due?

Berkley111

If you miss a payment but haven't received a statement, bill or any kind of notification, is that within the legal rules for credit products?

There's nothing specific in the terms about this. I've been charged for missing a payment, which is one thing, but that's also gone on my credit file, which is more of an issue.

I'm so used to receiving a statement, reminder text message and online banking pop-ups for my other credit cards. I was only late in paying by a few days, and paid in full.

jonesMUFCforever

If you miss a payment they are allowed to report it to the CRA's.

As far as I know it is not a legal requirement for them to tell you when payment is due as it is your responsibility to know when to pay.

A direct debit for at least the minimum payment would have covered this.

Gromitt

If the account generates paper statements then they must send you one unless you have requested not to receive them. However, if the statement does not reach you thats nothing to do with them and you are still responsible for paying the balance. The reasoning for this is that it is stated you know when you expect the statement and you could ring up to check the balance and due date.

So unless you can prove they never sent one (not that you didn't receive it), good luck fighting your case.

YorkshireBoy

Berkley111 wrote: »

There's nothing specific in the terms about this.

Really? Who's the provider?

For example...

MBNA say you must contact them "if you don't receive a statement when you expect one" (and if you've had the card some time you ought to have been expecting one).

Halifax say "You must pay us even if you do not get your statement."

But bearing in mind the payment due date, which you missed, is some 15-25 days after your statement was produced (so some 10-20 days after you normally receive your paper statement through the post), I can't see a complaint getting anywhere.

The_Boss

It is your responsibility to pay and no matter how much you try to shift the blame elsewhere it all comes back to you I'm afraid.

showders

How do I stand if a direct debit for minimum was setup but they failed to collect it?

The_Boss

showders wrote: »

How do I stand if a direct debit for minimum was setup but they failed to collect it?

Likely nowhere as they advise that you contiue payments until your statement specifically states that payment will be collected by direct debit.

What did your statement say?

chattychappy

To answer the OP's question: See the Lending Code http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf . Paragraphs 125 to 128 govern the issuing of statements.

The Lending Code is "soft law". Most lenders are signed up to it and incorporate its provisions into your agreement.

In short, as per Gromitt, the obligation is to send the statement not for you to receive it. It has to be that way else people would wriggle out of late payment fees by denying receipt.

dalesrider

showders wrote: »

How do I stand if a direct debit for minimum was setup but they failed to collect it?

Would depend on the reason for it not being collected.

If no funds in the account they were being taken form. Then your fault.
If the CC co simply failed to take the DD then it would be theirs.

Just when was the DD set up?
How long since it last collected a payment?