Late Payments - Idem Servicing

tompiq

Hi all,

First post, apologies if it's in the wrong place or throughly well answered.

I recently checked my credit file for the first time and discovered that a loan that I settled in 2015 (originally Egg Money, then Britannica, and finally Idem) had 3 late payment markers. One was from 2013 and two were from 2014. I contacted Idem and they sent through an explanation that said, in each case, payments were cleared into their accounts 1 day late. Having rung around other lenders and financial institutions the general rule of thumb seems to anywhere between 5 days and 14 days before ANYTHING gets marked on a credit file as being late. I was wondering is there official guidance on this? In total (across the three payments) I was a total of 11 hours late so it strikes me as incredibly agregious to be subject to 3 credit file ruining markers for that.

Alternatively, since the Idem line seems to be 'Late payments MAY affect your credit file' and it seems they have a policy that they WILL affect credit file no questions asked, is there a way to challenge that as a misrepresentation on their part? It all seems a bit silly. For my part, these were DC rather than DD payments (I know that was stupid, but it was necessary at the time for a whole host of reasons too boring to go into here). Any help or advice anyone can provide is much appreciated.

Many thanks.

Ben8282

You paid late. You get a late payment marker. End of story.
Would have loved to have listened to the phone calls to these other 'lenders and financial institutions'!

tompiq

Cheers for the reply.

The only folks I contacted were other people I have accounts with (Barclaycard, HSBC, Amex) as to their own policies and their answers are reflected in the original post. Still, good to get a read from yourself. Appreciate it.