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How soon can they default you?


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Have an HP agreement with Funding Corporation for a car which has been paid for nearly 2 years on the button & have never had reason to speak to them. Due to problems with December pay I missed a payment on the 26th of December which I was going to sort out this week but have been working silly hours as half the staff off with the virus thing that's going around. Very surprised to recieve a call from my wife who is joint on the agreement to say that they sent us each a letter today & have defaulted us. Can they do this after such a short time? If so it seems a bit draconian considering the effect a default can have on your credit file. Would appreciate some help on this one.

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Have you checked your credit files?

 

As you missed a payment, technically you are in "default" in that respect, Issuing a default notice then recording it on your credit file is a different thing alltogether.

 

Your monthly payments may be published on your credit files, you may now have 1 late payment marker for december. This is not a default, nor to serious, most miss 1 payment.

 

I would square up with them soon as pos.

 

I would be shocked if you have been defaulted after one missed payment, having said that, you never no.............

 

Could u say if its a "default notice" or just a letter?.

:!:
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