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Paying less than minimum payment
Bum2018
Posts: 77 Forumite
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.
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.
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Comments
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Defaulted until cleared.0
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Not really worth paying the £1 then ?0
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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.0
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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-letter0 -
Well yes it is, it will eventually clear the debt, you don`t really want to get into a habit of non payment.Not really worth paying the £1 then ?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 -
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.0
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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.0
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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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Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php0
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