Stick with late payments or ask for default? 30 August 2019 at 7:32PM in Credit file & ratings 20 replies 1K views

jonnym8083

If anyone could give me guidance please.I have an account with late payments marked every month from feb16-nov 18.
It was under default but they removed it as good will gesture and replaced with all these late payments. Would my credit file and score be better keeping these 30 consecutive late payments or try and get default but back on which was dated aug 16 so would be 3 years old now. Looking to apply for mortgage May next year.
Thank you for all advice

boo_star

Your other thread on this said you spoke to a broker who said the consecutive late payments would be a deal breaker but a 3 year old default would not be so not sure why you're asking this question?

jonnym8083

It’s a deal breaker for mortgage now. But HTB style house we want doesn’t have one now until nov next year so mortgage would be May next year so no sure if by then the late payments would be better?
Sorry for confusion

boo_star

jonnym8083 wrote: »

It’s a deal breaker for mortgage now. But HTB style house we want doesn’t have one now until nov next year so mortgage would be May next year so no sure if by then the late payments would be better?
Sorry for confusion

But you've already had advice from your broker on this. I still don't get the point of making another thread about this.

Willing2Learn

A default is definitely better than consecutive late payment markers. Guidance says the account should be recorded as being in default. Ask them to reverse their goodwill gesture as it has made you situation worse.

jonnym8083

I have asked them and they are really sticking there heels in. Might need to go to the ombudsman with it: just want confirmation from as many as possible that long term this is the right thing to do. Don’t want to fight something and worsen my situation if in 2 years these late payments would mean nothing compared to a default for example

boo_star

jonnym8083 wrote: »

I have asked them and they are really sticking there heels in. Might need to go to the ombudsman with it: just want confirmation from as many as possible that long term this is the right thing to do. Don’t want to fight something and worsen my situation if in 2 years these late payments would mean nothing compared to a default for example

Ask. Your. Broker.

They know who they're looking to place the mortgage with and how they're going to view defaults vs late payments.

Carrot007

continual late payment mean no one will touch you for a mortgage.


With defaults after 3 years you are fine.


Why the silly question?


Why did they do it (remove default) in the first place. Because you asked? Will be harder to reverse then. You asked them to do something in their benefit!

jonnym8083

I put forward a irresponsibile lending complaint and they did not uphold as it was a single loan but they said they would remove the default as a good will gesture. I have said to them a good will gesture is a favour. You haven’t helped me by doing what your doing. But they replied saying a default is more harmful to my credit file confused to say the least

jonnym8083

They have asked me for evidence but how do I evidence the fact they have obliterated my credit file?

boo_star

jonnym8083 wrote: »

They have asked me for evidence but how do I evidence the fact they have obliterated my credit file?

Evidence of what?