stupid brother

charleyroo

hi all

unfortunately my little brother doesnt follow after his sister in terms of being particularly bothered about his finances (hes 18 and going through a 'stage' i think!)

he went on holiday and spent all of his wages in 4 days (i know, ridiculous) and Halifax bounced his DD to O2. It looks like there will be minimal charges for going over his planned OD etc, but i was just wondering what the repercussions will be on his credit file?

I think he will be able to pay his O2 bill this week (it's a week late) if he hasn't already, but unsure where this fits in with his monthly payment cycle so i don't know if that will be 'late', late.

Tixy

O2 may file a late payment marker on his credit file. It might be worth a quick call to them to explain when he can afford to pay and ask if they will agree not to enter a late payment.

If his bank account is reported to the CRAs then they could in theory also apply a marker which would indicate either exceeding a facility or having items bounced. In practice if it is a one off then most banks do not do this (although I think someone recently suggested HSBC are a bit more prone to entering this type of marker)