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Paying less than minimum payment

Bum2018
Bum2018 Posts: 77 Forumite
Third Anniversary 10 Posts
in Credit file & ratings
Hello again,


I got in touch with a company I am in debt to. (My only debt and "only" about £200). They advised me just to pay what I can.


It's been marked on my credit file as defaulted each month since not paying. If I was to pay just £1 just now what would that be marked down as on my file ?


Thanks.
«1

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Defaulted until cleared.
  • Bum2018
    Bum2018 Posts: 77 Forumite
    Third Anniversary 10 Posts
    Not really worth paying the £1 then ?
  • Dar1976
    Dar1976 Posts: 21 Forumite
    10 Posts Name Dropper
    But showing no willingness to pay may lead the creditor to other avenues, including Doorstep or CCJ. If they file for a CCJ and are successful, that’s another 6 years of black marks on your file.
  • sourcrates
    sourcrates Posts: 31,796 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Bum2018 wrote: »
    It's been marked on my credit file as defaulted each month since not paying. If I was to pay just £1 just now what would that be marked down as on my file ?


    The default you now have, will show on your file for 6 years, regardless of what you do, legal action for less than £500 is rare, but does happen.
    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-letter
  • sourcrates
    sourcrates Posts: 31,796 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Bum2018 wrote: »
    Not really worth paying the £1 then ?
    Well yes it is, it will eventually clear the debt, you don`t really want to get into a habit of non payment.
    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-letter
  • Davy_Jones_II
    Davy_Jones_II Posts: 491 Forumite
    You were asking recently about opening a catalogue account. It’s probably a good idea not to do that, and instead to use the money that you would have spent there to pay off this debt.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    If the account is defaulted then it is closed. Not quite sure how you will able to pay anything towards it unless a DCA is involved.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Bum2018 wrote: »
    Not really worth paying the £1 then ?

    You’re correct in a sense.

    You should be paying off as much as you can.
  • enthusiasticsaver
    enthusiasticsaver Posts: 16,102 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Why do you think you should not clear it? Are you in a position to?
    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.

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  • boo_star
    boo_star Posts: 3,202 Forumite
    Part of the Furniture 1,000 Posts
    Ben8282 wrote: »
    If the account is defaulted then it is closed. Not quite sure how you will able to pay anything towards it unless a DCA is involved.

    I'm not sure where you got that idea from but defaulted accounts are not, by definition, closed.
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