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Is this a default?
JJASMINE
Posts: 23 Forumite
Direct debit for credit agreement failed due to.insufficient funds in account (cheques hadn't cleared in time to pay).
Got letter in to say payment had failed so immediately phoned to pay it. They said it's oKay we are going to retry it on April 4 with a £20 charge added on.
I then got a further letter detailing this but this letter described it as a default and included a notice about defaulting on an account.
It says if payment is made by April 4 then no further action will be taken. Does that mean if I pay by then it won't be a default?
I am freaking out. I've never had anything like this before...and we are in the midst of a mortgage application!
Got letter in to say payment had failed so immediately phoned to pay it. They said it's oKay we are going to retry it on April 4 with a £20 charge added on.
I then got a further letter detailing this but this letter described it as a default and included a notice about defaulting on an account.
It says if payment is made by April 4 then no further action will be taken. Does that mean if I pay by then it won't be a default?
I am freaking out. I've never had anything like this before...and we are in the midst of a mortgage application!
0
Comments
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Hi
I would expect them to give you a date to pay by before they register a default on your credit file, which sounds like it's 4th April. As it's so important with your mortgage application in progress I think it's worth contacting the creditor to clarify.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Direct debit for credit agreement failed due to.insufficient funds in account (cheques hadn't cleared in time to pay).
Got letter in to say payment had failed so immediately phoned to pay it. They said it's oKay we are going to retry it on April 4 with a £20 charge added on.
I then got a further letter detailing this but this letter described it as a default and included a notice about defaulting on an account.
It says if payment is made by April 4 then no further action will be taken. Does that mean if I pay by then it won't be a default?
I am freaking out. I've never had anything like this before...an
d we are in the midst of a mortgage application!
What happened? I am going through similar to you and worrying until I can speak to creditor tomorrow!!0
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