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Delinquent account
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Curlysue99
Posts: 14 Forumite
Hi all, I have a question regarding a loan I have. Due to losing my job I spoke to my creditor and set up a token payment with them until my circumstances improved. They took these payments for around 4-5 months and then stopped even though the direct debit was still live. They have since said its been passed to collections and I've to deal with them. But now my credit file is showing as delinquent and I've no idea what that means, can anyone help please?
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Its just a term used for an account that is not receiving regular contracted monthly payments, that`s all.Original creditors don`t have the time or the staff to deal with bad debt, so your account will be passed to collections, then if not cleared within a certain time frame, passed or sold to a debt collector.All perfectly normal and usual procedure.I`d cancel the DD.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
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