Default of sums act.

Star978

I was wondering if anyone could help me. So my due date was 28th feb. And I paid on the 1st march. I then looked at my statement on the 22nd march. And it was on the 8th march I received a late fee payment of £12, I didn’t realise until I scrolled and scrolled on the very bottom page I had a default sum of notice on there date the 8th march and the fee was “£12” I paid it on the 22nd march, and then on the 26th march I paid my full account off, I have phoned very and they said my account won’t default but I don’t know if they are understanding when I’m saying I was late In feb. I am really really freaking out I really don’t want this to default everywhere I’ve looked or say it gives you atleast 14days mine didn’t have a date it just said immediately to avoid any further chargers & default communications. I just didn’t realise I had this until I looked at my statement. I’ve looked on my credit file & February is ticked but I’m guessing it wouldn’t be feb it would be march? 

backinbusiness

It's just one late payment - not a default per se, do don't worry too much.  If it's a one-off it won't count for much. But - set up a DD for minimum payment to avoid this happening again. This will be marked on your credit file as a late payment.  BiB x 

Star978

I’ve been late on it before. I just didn’t realise, because I didn’t look at my statement I just don’t want this to default I’ve just changed for a mortgage 😭

sourcrates

Its default sums in arrears, or late payment, not a default, you don`t meet the criteria for defaulting your account, you have to miss at least 6 contractual repayments for that, don`t panic.

Star978

I have missed 6 

sourcrates

Star978 said:

I have missed 6 

Missed, as in paid late, or missed, as in not paid at all?

Star978

Missed as in late 

Star978

Wait, is it missed if I’ve not made before due date 

sourcrates

You will only be defaulted if you have not paid 6 or more contractual monthly payments, that`s not paid at all, late payments don`t count, lots of folk pay late, its when you don`t pay at all for a number of months consecutively that the account may be defaulted.

backinbusiness

And PLEASE set up a Direct Debit for the minimum . . . BiB x