3 payments missed deafult clarity needed

MIDLANDER

I recently prevented a credit card default after paying my 3rd due payment and arrears in full (missed 2 previous) at the last minute. So far so good.

Now i'm a month behind again.

Selling up to pay off and start again - but don't want a default while that happens.

If i pay last months but cannot pay this months aswell, is that still classed as two missed payments on a credit file and with the bank - and will that be a default by the third payment - or am i just one months in arrears each time a new statement comes out.

Eg, last month was £250 (missed) - they now want £500 inc arrears.
Ive now paid £250, but will miss the next payment date again for the rest. So new statement will again be £500 (£250 in arrears).

If i dont pay that one in full - is that 3 missed payments and a default on the account - and will it shows as a (3) on my credit file or just (1) each time.

Confused.com.

Thanks in advance

pinnit2014

Defaults are issued upon you breaking the t&c's of the agreement - people may correct me but this is normally 6 months in arrears.

I'm not really a great believer in the CRA's but as far as i know the status each month will be how many months of arrears you're in it will increase by one, and can be corrected to get it back to date by overpayments to it'll read up to date. If you buy into the whole credit reference agency thing then in terms of you score then it's probably taken a dent regardless of whether its 1,3,2, statuses'....

Rather than worry about whether it's one, two or three etc, have you considered 'stoozing' or seeing if you can move balances between cards?

grumbler

pinnit2014 wrote: »

...have you considered 'stoozing' or ...?

Are you sure that 'stoozing' is the correct word?