Defaults

Milli1017

I have recently been told by my insurance company that they will be issuing a default on my credit report because I was 2 days late paying my insurance. 

I am on maternity leave and the initial date of the direct debit has always been awkward but as I was working full time I luckily always had the money to hand, on this occasion due to being on a lesser wage I totally forgot to transfer money from my savings to my current account for the direct debit, which meant the payment was rejected.

I have tried to explain but they are adamant this will go down as a default on my credit rating, even thought I made payment that same day. 

Do you have any advice on what I can do? Surely it is just classed as a late payment and not missed? This just seems to unfair. 

mcpitman

How were you told about this "default". Was it letter or phone call?

2 days late for an annual renewal or 2 days late for a Direct Debit etc?

Generally agree this would be a late payment, as long as it is the first time it's late and there isn't repeated missed payments etc.

Milli1017

I was told by email and then a follow up letter was sent. 

2 days late for a direct debit which has only ever happened once and I have been with them about 4 years. 

adamp87

This wouldn’t be a default. A default would be pretty much the ending of the contract and usually happens after 3-6 months of failed payments.

Is this a one off payment or monthly? Arguably the fact you paid it with suck a quick turn around is a huge positive and realistically they should have contacted you about the missed payment first not a ‘default’.

If they do default instantly launch an official written complaint or email complaint and if it isn’t rectified and they give you a ‘deadlock’ take it to the ombudsman. They’ll be in your favour for this it all has happened as above I’d be certain.