Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • uniqua30
    • By uniqua30 12th Mar 18, 12:50 PM
    • 13Posts
    • 0Thanks
    Late Payment Marker from Premium Credit
    • #1
    • 12th Mar 18, 12:50 PM
    Late Payment Marker from Premium Credit 12th Mar 18 at 12:50 PM

    I made a late payment on my Premium Credit account (insurance but on Equifax show as a loan). The payment was due on 30th December 2017 but I didn't have sufficient funds when the DD was collected. As I was out of the country at the time I didn't realise the payment hadn't gone but paid as soon as I opened the letter from Premium Credit once I got back home. The payment was paid to Premium Credit on 15th January 2018, so was 15 days late.

    I've now realised after checking my credit report on Equifax that Premium Credit have put this as a late payment on my credit file. I know that the payment was late but was surprised to see that they had marked it late when it was under 30 days old.

    What impact will this late payment have on any credit applications? I've just sold my house and will be applying for a new mortgage in the next week or so!

    I've also noticed that the Premium Credit information is wrong! It shows that the monthly term is 999 x 44. When in fact it's 12 months at 44! This means that the total amount payable is 43,956 instead of 528! But the start balance shows as 437!
    Any advice appreciated.

    Last edited by uniqua30; 12-03-2018 at 1:03 PM. Reason: Additional information
Page 1
    • zx81
    • By zx81 12th Mar 18, 12:58 PM
    • 16,800 Posts
    • 17,811 Thanks
    • #2
    • 12th Mar 18, 12:58 PM
    • #2
    • 12th Mar 18, 12:58 PM
    It's only one late payment, but your timing could have been better.

    If you're using a broker, make sure you tell them. Check to see whether it appears on all your files.
    • Gary_Dexter
    • By Gary_Dexter 12th Mar 18, 2:15 PM
    • 1,128 Posts
    • 623 Thanks
    • #3
    • 12th Mar 18, 2:15 PM
    • #3
    • 12th Mar 18, 2:15 PM
    A late payment is a late payment. They can add a late payment marker after one day if they want to.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,714Posts Today

7,918Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin