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Cancelled direct debit
imaginary_binary
Posts: 80 Forumite
Hi I have a direct debit with a gym which I cancelled as I stopped going. Will this show up on my credit score as missed payments, even though I cancelled it?
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Comments
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did you cancel the contract and not just the DD?0
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Well if you have a contract then you will have missed payments or defaulted if its gone that far. If no contract then no you are fine, but would have been courteous to let them know.
Just to add what has this got to do with mortgages????An opinion is just that..... An opinion0 -
Almost certain this is a problem! How much depends on the contract.0
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Thanks for the replies. The reason I ask is because I'm applying for a mortgage and I wonder if this type of thing will show up on my credit check. It's only £20 and month and maybe there are 2 / 3 months missed. But obviously it makes me very worried now and I kick myself for not having thought about it because we knew we were going to buy a house!
So I guess the common sense thing to do sort it out.0 -
How long was the gym contract for? Many are annual commitments. How many months until the end of it?
If you have just stopped paying then they will report it and they will be coming after it.0 -
imaginary_binary wrote: »I wonder if this type of thing will show up on my credit check..
One way to find out is to get a copy.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
imaginary_binary wrote: »Hi I have a direct debit with a gym which I cancelled as I stopped going. Will this show up on my credit score as missed payments, even though I cancelled it?
Cancelling the direct debit does not cancel the contract or your obligation to pay.0 -
Having previously owned a Gym through a national franchise I can say that it's highly unlikely that you will be reported to any credit agencies. Normally they will chase you for missed payments and/or employ the services of an collection agent to try and recover them. 90% of the time it gets written off unless you are say 1 or 2 months into a 12 month contract.
Canceling a DD although in breach of contract is very unlikely to show up on a credit report so shouldn't affect a mortgage application.0
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