Admiral default notice, what do I do?

Helloareyouokay

Hi,
I had a payment that was due on the 20th of February. I miscalculated and didn't realise I didn't have enough in my account for the payment as something came out the day before which I forgot about, I got an email today and called Admiral up straight away and made the payment.  I have never ever missed a payment on anything and now after one missed payment they are going to issue a formal credit notice on the 27th February this month. Is there anything I can do to get it removed. I already made the payment. This is what they said in the Email:

Your bank/building society could not pay your Direct Debit instalment of £92.86 due on 20/02/2021. We will reapply for this overdue instalment on the 03/03/2021. Please make sure money is available and remains available until we collect this outstanding premium. We may need to apply for more than one instalment if there has been a delay. Any late or missed payment is a breach of your credit agreement and a formal Default notice will be issued on 27/02/2021 in line with s.87(1) Consumer Credit Act 1974 which will formally explain what will happen if you fail to make the payment.

[Deleted User]

Looks like you got lucky. Make the payment now (or make sure you have funds for the DD) and you should avoid the missed payment marker.

Helloareyouokay

Deleted_User said:

Looks like you got lucky. Make the payment now (or make sure you have funds for the DD) and you should avoid the missed payment marker.

But in the email it says they will issue one on the 27th which is in like three days and the guy on the phone said they would still have to issue it, makes no sense lol

cymruchris

It sounds like they will send you a formal notice of what will happen if you miss the payment rather than issue you with an actual default. As you've made the payment - even if the auto-generated notice still comes - no further action should be taken. Happy to stand corrected if I've misinterpreted it. Sometimes the way systems work - even if you've done something - something else can't be stopped. It's a bit like a direct debit - if you make a payment to your credit card the day before the direct debit comes out - in some cases it can't be stopped and comes out anyway. The important thing is likely that you're now up to date - and fingers crossed you don't experience it again.

[Deleted User]

Helloareyouokay said:

Deleted_User said:

Looks like you got lucky. Make the payment now (or make sure you have funds for the DD) and you should avoid the missed payment marker.

But in the email it says they will issue one on the 27th which is in like three days and the guy on the phone said they would still have to issue it, makes no sense lol

It says they will issue a notice. 

lol

Helloareyouokay

Deleted_User said:

Helloareyouokay said:

Deleted_User said:

Looks like you got lucky. Make the payment now (or make sure you have funds for the DD) and you should avoid the missed payment marker.

But in the email it says they will issue one on the 27th which is in like three days and the guy on the phone said they would still have to issue it, makes no sense lol

It says they will issue a notice. 

lol

Yh Im an idiot

etienneg

It's a really bad idea to pay insurance (especially car insurance) monthly.

Firstly, the cost for the credit is usually high.

Secondly, if you miss a payment like you did, you have breached the terms and they can cancel the policy, which you will have to declare every year at renewal or when you move insurer for the rest of your life. If you don't declare it, you may as well not bother insuring as the policy is then void and any claim will be refused. You would also be committing fraud by knowingly making a false declaration. There is an insurance industry database of people who have had policies cancelled. OK, so they are unlikely to cancel on the first such occasion, but why take the risk?

Thirdly, for car insurance they only need to give seven days' notice by post of their intention to cancel, after which you would be driving uninsured. This would apply whether or not you actually received the letter. The most obvious reason why you may not have seen it and still be driving would be if you were away on holiday. Driving without insurance carries a minimum penalty of a fine and six penalty points, although disqualification is perfectly possible. Again, why take the risk?

MillieDaisy

Hey, I know this was a while ago but Ive just received the same email and am worried. I've called and paid already but was wondering if this did have any longer term impacts for you?

Thanks

Ebe_Scrooge

MillieDaisy said:

Hey, I know this was a while ago but Ive just received the same email and am worried. I've called and paid already but was wondering if this did have any longer term impacts for you?

Thanks

 

As per the previous answers from a year ago, if you pay immediately - or make sure the re-application for DD is successful - you should be OK.

Even if a default marker is placed on your file, it's not the end of the world.  A default is not ideal, obviously, but one misdemeanour in an otherwise unblemished history will have very little impact.

The bigger worry would be if they cancelled your policy, but that is not going to happen if you paid the missed instalment straight away.

nyermen

Side point to the above, it does seem a bit unfair a default notice rather than a late payment marker.  Even banks consider default to be 3 months arrears (usually).