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will the bank help us out with this?
mikechaos
Posts: 25 Forumite
Hello,
My first ever post although I have read probably thousands on here over the last few years! We ( my wife and I ) are about months into our 'get out of loads of debt' journey. We started at a horrendous 70K at the start of this year, however with budgeting, a bit on an income increase and snowballing we have reduced it to 60K which we are really pleased about. We are aiming to get it down to 45K by Christmas and to have it all cleared within 3 years at the most.
Last month my wife accidentally forgot to transfer some money to our joint account and as a result out loan payment was returned. She noticed the following day and called the bank ( halifax) and made the payment immediately. It is out of character for either of us to miss payments. We have been affected by the covid situation and my wife suffers from mental health issues which have been heightened by what is currently going on. It's not been a great month and things were very chaotic ( hence my usename !)
Today we learnt halifax have logged a late payment on our credit files. I know that this in itself is not a huge deal, however we have worked hard recently to reduce our debts and improve our credit. She is devastated and very upset about this. I am thinking of calling Halifax tomorrow and asking if they could consider removing this from our credit files given the challenging circumstances that we are facing. What is the likelihood that they will support us with this?
We have set up a DD so it won't happen again. Do banks sometimes support customers by removing late payment markers?
Thank you
My first ever post although I have read probably thousands on here over the last few years! We ( my wife and I ) are about months into our 'get out of loads of debt' journey. We started at a horrendous 70K at the start of this year, however with budgeting, a bit on an income increase and snowballing we have reduced it to 60K which we are really pleased about. We are aiming to get it down to 45K by Christmas and to have it all cleared within 3 years at the most.
Last month my wife accidentally forgot to transfer some money to our joint account and as a result out loan payment was returned. She noticed the following day and called the bank ( halifax) and made the payment immediately. It is out of character for either of us to miss payments. We have been affected by the covid situation and my wife suffers from mental health issues which have been heightened by what is currently going on. It's not been a great month and things were very chaotic ( hence my usename !)
Today we learnt halifax have logged a late payment on our credit files. I know that this in itself is not a huge deal, however we have worked hard recently to reduce our debts and improve our credit. She is devastated and very upset about this. I am thinking of calling Halifax tomorrow and asking if they could consider removing this from our credit files given the challenging circumstances that we are facing. What is the likelihood that they will support us with this?
We have set up a DD so it won't happen again. Do banks sometimes support customers by removing late payment markers?
Thank you
0
Comments
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I feel like covid has changed a lot with banks etc and made them a lot more compassionate. I'm not saying they will remove the marker but I'm sure if you explained the situation they may do as a gesture of goodwill. These are crazy times after all.1
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I missed a payment once with Halifax which was out of character. I explained that I had more pressing matters on my mind which I did not go into because I didn't want to, but they were compassionate and reimbursed the £12 late payment however, to my recollection, I think the late payment stayed on file.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS1
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The good news is that if you are concentrating on clearing your debt and nor adding to it then no harm done, but even so ask them they can only say no.
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