Late Payment for a loan

xlnc99

boo_star wrote: »

Well I can assure you, it is allowed.

The problem with what your post says is it's pretty dangerous "advice" to give to the OP. As there is no hard and fast rule about reporting these late markers he may well end up with one. And if they credit check him before the mortgage goes through and it has been reported I'd put money on his mortgage offer being revoked. It just isn't worth the risk.

He needs to assume it will be reported and pay it so it isn't

I understand your point. The best thing to do is ring Barclays but its advice given based on findings and my own experience. As said before all companies give grace period no matter what and there is not one single case in which someone has been marked late for one day payment, from what ive seen and read and also experienced

xlnc99

!!! wrote: »

And here we are waiting on your government back evidential proof still...

and here we are waiting for your imaginary threads about people getting marked late after one day late payments....

[Deleted User]

xlnc99 wrote: »

Just found a thread confirming my and zx statements about late payments and the 30 days: Have a full read of the thread, you have some expert opinions from bankers who confirm what me and ZX have said

https://forums.moneysavingexpert.com/discussion/3906563/credit-card-payment-4-days-late-how-does-this-affect-mortgage-application

Just in the interests of clarity, I'm not saying that late payments of a day aren't reported as late. More often than not, they are.

I said that late payments will be reported to CRAs in the next reporting cycle, which will be within the next 30 days.

Some lenders operate an unpublished grace period (retailer cards are often an example). Many operate a zero grace day policy and will mark the account as late the next day.

I've implemented both types of policy for lenders over the last twenty odd years.

As a general trend, grace periods are less common than they used to be, but customer service discretion in dealing with complaints is more common.

Hopefully that helps clear things up.

xlnc99

To the OP

https://help.barclaycard.co.uk/brochure/paying_bill/late_payment_credit_rating

Barclays offer you 14 day grace period so you are OK as long as you pay within 14 days after your due date

boo_star

xlnc99 wrote: »

To the OP

https://help.barclaycard.co.uk/brochure/paying_bill/late_payment_credit_rating

Barclays offer you 14 day grace period so you are OK as long as you pay within 14 days after your due date

That's Barclaycard, not Barclays.

Barclays may not operate the same policy with their loans.

sourcrates

It depends on how you pay your Barclays loan, if its by Direct Debt, and the DD fails, they will try again after 10 days, with no adverse effect on your credit file.

This is what the Barclaycard website has to say about late payments, it may depend which policy they apply to loan accounts :


"So, as long as you were up to date last month, and you can get your payment to us within 14 days of the payment due date (which counts as day one), your credit file won't be affected. A late fee will still apply – this will appear on your next statement. ... But we'll still have to charge you the late payment fee".

JohnMl88

xlnc99 wrote: »

To the OP

https://help.barclaycard.co.uk/brochure/paying_bill/late_payment_credit_rating

Barclays offer you 14 day grace period so you are OK as long as you pay within 14 days after your due date

Yes my fianc!e was late for one day and Barclayscars didn’t report the late payment.

[Deleted User]

xlnc99 wrote: »

And yet everyday someone is removing a late payment marker or default or what not through a gesture of 'goodwill'. Infact the FCO have said pay day loans must remove all data for customers that win their claim for intrest to be refunded. Is that not a data breach?

So cant really use that arguement

Who are the "FCO"?

[Deleted User]

camelot1971 wrote: »

Who are the "FCO"?

Foreign and Commonwealth Office.

They’ve upped their game into the financial industry now as well as travel.

Have you not heard?

It’s government backed as well apparently :cool: