We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
breathing space?
Nugents
Posts: 7 Forumite
Apologies for posting twice in one day!
If a bank offers 30 days breathing space where interest and fees are frozen, does this affect your credit file or does this only happen if you go onto a formal plan?
If a bank offers 30 days breathing space where interest and fees are frozen, does this affect your credit file or does this only happen if you go onto a formal plan?
0
Comments
-
No need for apologies, post as much as you want too.
Its normally down to the individual creditor how they record this, I`ve not heard of any individual company marking as an AP, but then when someone asks for breathing space, the effect on their credit file is usually the last thing on there mind.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it 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.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I think it depends on whether the individual bank or credit card treat it as a default. Technically if you have your interest frozen you are not paying your contractual payment. Some may report this to the three credit agencies so best to check before you go ahead with this. They are unlikely to freeze interest though if your financial statement shows you are able to meet minimums. Can you post an soa up here?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment 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.
The 365 Day 1p Challenge 2025 #1 £667.95/£391.55
Save £12k in 2025 #1 £12000/£120000 -
This post gives a bit of a different I pression from your other one, where you seemed to feel comfortably able to meet your obligations.
It sounds as though you could be in a place where a relatively small misfortune could tip you over into crisis.
I think that now is the time to look very carefully at incomings and outgoings, not the ones you aspire to, but where the money is actually going, and get your plan together to sort it out at a decent pace.0 -
John_G_Jones wrote: »This post gives a bit of a different I pression from your other one, where you seemed to feel comfortably able to meet your obligations.
It sounds as though you could be in a place where a relatively small misfortune could tip you over into crisis.
I think that now is the time to look very carefully at incomings and outgoings, not the ones you aspire to, but where the money is actually going, and get your plan together to sort it out at a decent pace.
I called MBNA and asked about an interest reduction. They have offered a short period of breathing space.
We are not behind with any payments and we are reducing the debt by over 1K per month, but you're right. job loss or sudden illness would see it all come crashing down very quikcly.0 -
Post a statement of affairs on your other post0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards