Missed payments

2babyboys

Hello!

My credit rating was excellent, but is dropping due to 3 missed payments from Fuse Energy. I had a direct debit set up but changed provider. After I switched i cancelled my direct debit. The final bill was calculated using estimated readings, including cancellation charges that they said they would waive before I cancelled. I disputed the bill and after some back and forth the cancellation charges were removed but in the meantime I incurred missed payment markers. TBH I didn't know this would happen although having read the emails they sent this is stated. So is my mistake. As the bill was being disputed I asked for the missed payments to be removed but they are declining. Anyone know how much of an impact and for how long this will be? And has anyone had any joy getting missed payments removed please? No other markers on my file. I might need to get a mortgage in about 12 months and am panicking. I do intend to make a FCO complaint as the reporting data was incorrect where the bill was wrong. I have paid the bill now.

MMany thanks

MattMattMattUK

Your credit rating/score is meaningless, no lender ever sees it, they only see the data in your file, you can ignore that.

The missed payment markers will not be removed because they are correct. I am not sure how the Foreign and Commonwealth Office will help, if you mean the Financial Ombudsman Service they will not help either as the markers are accurate.

The missed/late payment markers will have a negligible if any impact 12 months after their date, so as long as you are not getting a mortgage for twelve months you will be totally fine. Have you spoken to an independent mortgage broker ahead of that to get a rough idea of borrowing capacity, correct deposit amounts, a guide in monthly repayments etc.?

sourcrates

A "one off" batch of missed payments will have a negligible effect on your credit file, and over time, non at all.

Potential lenders look at your most recent credit history, usually the last three years, but this can vary between banks, overall its nothing to worry about.