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At what point is my credit rating affected
eggmanfoo
Posts: 5 Forumite
I am in the process of weighing up my response or lack of response to a parking charge notice letter from a debt company.
My main questions is, at what point/stage does my credit rating become affected.
I have read that only after i lose a small claims case, and im ordered to pay a company, and i fail to pay, i then get a poor credit rating.....is this correct?
Sorry for posting....i have tried numerous searches with poor results
My main questions is, at what point/stage does my credit rating become affected.
I have read that only after i lose a small claims case, and im ordered to pay a company, and i fail to pay, i then get a poor credit rating.....is this correct?
Sorry for posting....i have tried numerous searches with poor results
0
Comments
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It would depend if the DCA report to the CRAs.
You may find more information on the motoring/parking tickets page.
http://forums.moneysavingexpert.com/forumdisplay.php?f=163I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
They can not report to credit agencies as you have no credit agreement with the debt firm.
Your statement is 100% correct, if they take you to court, you lose and refuse to pay.
All parking firms suffer a loss of around £250 for each court case they do win and £450 for ones they lose.I do Contracts, all day every day.0 -
I am in the process of weighing up my response or lack of response to a parking charge notice letter from a debt company.
My main questions is, at what point/stage does my credit rating become affected.
I have read that only after i lose a small claims case, and im ordered to pay a company, and i fail to pay, i then get a poor credit rating.....is this correct?
Sorry for posting....i have tried numerous searches with poor results
You wont get a poor credit rating, you will get a negative entry on your credit report.
Your rating is only seen by yourself.0
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