When is a payment late?

eeyore_rocks

My first post- so forgive the naivety!

I have been steadily working through my credit problems over the last 5 and a half years, and a CCJ and a default are about to drop off my report in the next three months (both being steadily paid back).

Last week a standing order bounced due to lack of funds (no excuses- I miscalculated my current account) and I immediately called the company and paid by debit card as soon as I noticed (thankfully, only 24 hours later). Will this now get recorded as a late payment or do you think I will get away with it? I am gutted that having come so close to cleaning up my record one stupid mistake could jeopardise everything again.

matttye

If the payment cleared after the due date, which it sounds like it did, they're entitled to register a late payment.

Some companies will waive the first one, so it's worth asking.

happy_bunny_2

Some companies report it late after a day, some give until the next statement date and some give a month.

Best to ask them nicely to remove it. As Matttye says, you sometimes get some flex with the first one.

stclair

Personally rather than kicking up a fuss now wait until your credit file updates and see whether it's reported or not.

scrimper88

Normally your direct debit date is earlier than your due date. For example my bc dd date is 18th but my due date isn't until the 2nd so if the dd bounced as long as i paid by the 2nd it would be fine.

i find setting up your dds to come out the day after payday makes it easier as then you don't need to calculate anything so there can be no miscalculations

The_Boss

scrimper88 wrote: »

Normally your direct debit date is earlier than your due date. For example my bc dd date is 18th but my due date isn't until the 2nd so if the dd bounced as long as i paid by the 2nd it would be fine.

i find setting up your dds to come out the day after payday makes it easier as then you don't need to calculate anything so there can be no miscalculations

It was a standing order though, not a direct debit

Probi

When was the due date on your statement? If the payment you made was before this then you should be ok.

eeyore_rocks

It was a standing order which I set up years ago when I first got into trouble on a defaulted account... at the time my pay day was the 25th. A couple of years ago I was made redundant, and my pay date changed when I finally got a new job- unfortunately I didn't think about moving the payment date. Totally my mistake and if they do register a late payment then I guess I will just have to take it on the chin. The only saving grace (I think) is that as this was on a defaulted account which 'drops off' shortly, then the late payment won't be visible anyway will it?