Missee Mortgage Payments - Help Needed

ShakerKev

Hi I hope somebody can help me, I have just checked my bank and my mortgage d/d was returned due to lack of funds. I honestly believed that we had enough in the account for the payment and have never missed one before so it is an honest mistake. Can somebody answer the following questions to ease my mind:

Does this now count as a default?
What are the implications of this?
What if I cant make the payment now?
Or we cannot pay the arrears back immediately?
Does this seriously damage my credit rating?

This was a completely honest mistake, I will phone Northern Rock in the morning but I have never been in arrears before and dont want to destroy my credit rep with a mistake.

Any replies would be helpful thanks

Kev

MissKJ

Just happened to me today as well, same company. I have had this happen before a few months ago, Northern rock will automatically request another DD couple of days later. Make sure you have the funds or ring bank/ and or mortgage company to sort it out, or oyu will get charged again by the bank for refusuing the DD.

MissKJ

There are no issue if you sort it out now and say it is a banking error. Don't forget, with ,most NR mortgages you can request a mortgage holiday (mine is every 9 months) but you have to request in advance. Does increase your interest payments but is sometimes an option to give you some breathing space. Maybe you can move things around now, and apply for payment holiday next month to straighten yourself out?