Default notice
Options
Brierlyjoe
Posts: 3 Newbie
Hi there, I received a default notice for cancelling a direct debit to a finance company 4 months early (oops!) that my bicycle insurance used to enable me to pay in instalments. I set it up, paid the fee and the outstanding payment within the stated 14 days.
Will this be put on my credit file, and if so, what sort f impact will it have on my next planned financial application, a remortgage in 4.5 years?
Thanks
Joe
Will this be put on my credit file, and if so, what sort f impact will it have on my next planned financial application, a remortgage in 4.5 years?
Thanks
Joe
0
Comments
-
Most likely yes.
Check all 3 of your credit reports0 -
Even if the Direct Debit was cancelled, provided the contractual installments were still met on-time and in full, there is nothing adverse to report to the credit reference agencies.
If the Direct Debit was cancelled and the due installment was missed or paid late as a result, then it would be right for them to report such.
If I was going to cancel a Direct Debit, I would clear any upcoming payment first and then use card in future to eliminate the opportunity for them to strike at me.Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0
This discussion has been closed.
Categories
- All Categories
- 343.4K Banking & Borrowing
- 250.2K Reduce Debt & Boost Income
- 449.8K Spending & Discounts
- 235.5K Work, Benefits & Business
- 608.4K Mortgages, Homes & Bills
- 173.2K Life & Family
- 248.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards