Late payment

Kund

Hey,

Due to a genuine mistake I have missed a payment of £5 pound and have now been confirmed it has been reported as a late payment. However she is saying that because it's for such a small amount I shouldn't worry about it as other lenders wouldn't be able to see it?

Does this sound right to you?

[Deleted User]

No.

If it's marked as a late payment, it will be visible to lenders when they search your files.

Willing2Learn

Why not phone up the lender again? You could politely and profusely apologise. Say that it is a one-off. Ask that they don't mark your credit file with a late payment marker. As a gesture of goodwill. Just be super polite and super apologetic.

Kund

That's exactly what I thought. But she sed that they wouldn't be able to see and I shouldn't worry. I'm so annoyed at the whole situation, I was aiming for a mortgage this year and now for the sake of 5 pound I could bump into difficulty.

Kund

I have already called them a number of times, they say they can't change a factual report.

[Deleted User]

And they’re correct.

It is a factual representation of what happened.

System

A one off isn't going to cause you any issues, I wouldn't waste any time trying to sort it. Regular missed payments would.though.

YorkshireBoy

Willing2Learn wrote: »

Why not phone up the lender again? You could politely and profusely apologise. Say that it is a one-off. Ask that they don't mark your credit file with a late payment marker. As a gesture of goodwill. Just be super polite and super apologetic.

The 'Principles of Reciprocity' would forbid the doctoring of factual records. After all, if lenders want factual information out, they have to put factual information in!

Just imagine if they were all removing/not placing markers...lenders wouldn't be able to accurately assess risk.

And where does it stop?...1 strike?...3 strikes and you're out?...£5?...£25?...less than 3 days late?

Some bedtime reading...:)

http://www.scoronline.co.uk/
http://www.scoronline.co.uk/sites/default/files/PoR%20version%2040.pdf



OP, what was the "genuine mistake" you made? Would it have been prevented by having a direct debit set up? At £5 the answer is almost certainly yes, isn't it?

phillw

YorkshireBoy wrote: »

Would it have been prevented by having a direct debit set up? At £5 the answer is almost certainly yes, isn't it?

DD can bounce if you don't have enough money in the account and don't have an overdraft.

I switched the DD on a CC 6 days after the payment was due and showed on my CC statement as received, but they hadn't actually taken the DD yet and immediately they put on the statement that the DD had failed and applied a late payment fee. They then blocked the card.

redux

If it's only a day or two late, it might not be reported.

This might explain why staff there said not to worry about it, though if so they could perhaps have clarified.

phillw

Yeah. If you are on top of things then you can normally catch a late payment and get them to waive it and not report it. But the OP said it had ben confirmed they had already reported it. So unless you can find a way to shift the blame then there is nothing you can do. For that reason there would be no point worrying