Lease - Late DD payment
Discussion
I recently signed up to Clearscore to check my credit score and noticed that I had a late payment on file for my VWFS lease. Basic order of scenarios was:
2 year PCH ended on 20th March, and I opted for an informal extension which can be ended at any time. My direct debit date was 20th of each of month.
May 1st - sent an email requesting termination of contract. Confirmed and email said no further DD payments would be taken. Car was to be parked up until BCA came to collect, which was on hold due to Covid.
May 20th - No direct debit taken as the informal extension had been ended
May 28th - Emailed them to see if I could reinstate the informal extension, to which they agreed.
This meant that from May 1st to May 28th, my informal extension had ended and my DD payment wasn't taken. But after May 28th it was reinstated so I now owed the amount for that month
After logging into to the VWFS portal I saw that the DD was showing as in arrears, so I paid it manually on 3rd June as soon as I noticed.
In this situation do you think I can get this late payment marker removed from my credit report? I can't get hold of them via phone and email takes a long time
2 year PCH ended on 20th March, and I opted for an informal extension which can be ended at any time. My direct debit date was 20th of each of month.
May 1st - sent an email requesting termination of contract. Confirmed and email said no further DD payments would be taken. Car was to be parked up until BCA came to collect, which was on hold due to Covid.
May 20th - No direct debit taken as the informal extension had been ended
May 28th - Emailed them to see if I could reinstate the informal extension, to which they agreed.
This meant that from May 1st to May 28th, my informal extension had ended and my DD payment wasn't taken. But after May 28th it was reinstated so I now owed the amount for that month
After logging into to the VWFS portal I saw that the DD was showing as in arrears, so I paid it manually on 3rd June as soon as I noticed.
In this situation do you think I can get this late payment marker removed from my credit report? I can't get hold of them via phone and email takes a long time
WhyNotEh said:
I recently signed up to Clearscore to check my credit score and noticed that I had a late payment on file for my VWFS lease. Basic order of scenarios was:
2 year PCH ended on 20th March, and I opted for an informal extension which can be ended at any time. My direct debit date was 20th of each of month.
May 1st - sent an email requesting termination of contract. Confirmed and email said no further DD payments would be taken. Car was to be parked up until BCA came to collect, which was on hold due to Covid.
May 20th - No direct debit taken as the informal extension had been ended
May 28th - Emailed them to see if I could reinstate the informal extension, to which they agreed.
This meant that from May 1st to May 28th, my informal extension had ended and my DD payment wasn't taken. But after May 28th it was reinstated so I now owed the amount for that month
After logging into to the VWFS portal I saw that the DD was showing as in arrears, so I paid it manually on 3rd June as soon as I noticed.
In this situation do you think I can get this late payment marker removed from my credit report? I can't get hold of them via phone and email takes a long time
Difficult to confirm on your case, but i'm fairly confident the informal extension with VWFS isn't Month by Month & it will have some level of formality, that being i'm sure 3mths. Any longer & it's a formal extension which IIRC is for a 6mth term.2 year PCH ended on 20th March, and I opted for an informal extension which can be ended at any time. My direct debit date was 20th of each of month.
May 1st - sent an email requesting termination of contract. Confirmed and email said no further DD payments would be taken. Car was to be parked up until BCA came to collect, which was on hold due to Covid.
May 20th - No direct debit taken as the informal extension had been ended
May 28th - Emailed them to see if I could reinstate the informal extension, to which they agreed.
This meant that from May 1st to May 28th, my informal extension had ended and my DD payment wasn't taken. But after May 28th it was reinstated so I now owed the amount for that month
After logging into to the VWFS portal I saw that the DD was showing as in arrears, so I paid it manually on 3rd June as soon as I noticed.
In this situation do you think I can get this late payment marker removed from my credit report? I can't get hold of them via phone and email takes a long time
I extended my Golf R Estate twice with VWFS over the original 24mth term & then acquired from VWFS at the end of 36mths.
Alucidnation said:
Most companies only use Credit scoring websites these days to prove who your are, and don't take any notice of your actual 'score' i think?
They do take notice of late or missed payments though.Technically, since the OP off leased the car for a period and then change his mind he was late paying and it may well stand.
They don't have to remove it, I would just file a amendment to the credit file and move on.
Edited by surveyor_101 on Friday 20th November 13:00
w8pmc said:
Difficult to confirm on your case, but i'm fairly confident the informal extension with VWFS isn't Month by Month & it will have some level of formality, that being i'm sure 3mths. Any longer & it's a formal extension which IIRC is for a 6mth term.
I extended my Golf R Estate twice with VWFS over the original 24mth term & then acquired from VWFS at the end of 36mths.
Thanks for the reply. It was definitely on an informal basis - nothing was signed or no further docs provided, it was just a case of "keep it and continue to pay, cancel at any time by letting us know and we'll refund a partial amount for that months payment (if any)"I extended my Golf R Estate twice with VWFS over the original 24mth term & then acquired from VWFS at the end of 36mths.
The DD system depends upon the creditor requesting money from your bank. If the bank returns the request unpaid then the creditor has a case for a late payment as they have to chase you for it, but if they don't present the DD then that's their fault not the yours and it's up them to sort it, either by a late request or doubling up the next payment.
If the bank haven't returned the request unpaid then I'd be very miffed if the creditor then adds insult to injury by marking my credit record due to their own incompetence.
Of course everything is excused Because Covid these days.
If the bank haven't returned the request unpaid then I'd be very miffed if the creditor then adds insult to injury by marking my credit record due to their own incompetence.
Of course everything is excused Because Covid these days.
surveyor_101 said:
They do take notice of late or missed payments though.
Technically, since the OP off leased the car for a period and then change his mind he was late paying and it may well stand.
They don't have to remove it, I would just file a amendment to the credit file and move on.
I’d not do that. Ask for it to be removed, if not possible, don’t add a note of explanation. Any future searches of the credit file will not auto accept if there’s a flag on an account. Best case it ends up being a pain and supplying explanation to whomever the OP is applying with, worst case is a manual search reveals something that otherwise would’ve gone unnoticed... Technically, since the OP off leased the car for a period and then change his mind he was late paying and it may well stand.
They don't have to remove it, I would just file a amendment to the credit file and move on.
Edited by surveyor_101 on Friday 20th November 13:00
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