Late payments may not count as arrears

It is imperative that you speak to your mortgage company about your mortgage arrears on your mortgage account, to clarify their position as every mortgage company is different. In some cases, if the late payment is paid off before the next payment is due, then this could not count as a late payment or arrears, again this does depend on your mortgage company views.

In some cases you may have missed a payment through no fault of your own and your bank may have not processes your direct debit. In this situation call your mortgage company immediately and arrange for the payment to be sent over either by the bank, cash or a card payment.

In the event that it was no fault of your own and it was the banks fault, that created the late payment, make sure you get a letter clearly highlighting that it was not your fault and that they had made a mistake. Ensure that you send a copy of this letter to your mortgage/credit company, so that it doesn’t have an effect on your credit file.

Also see:

Paying mortgage arrears
If you can't pay your arrears
Manage your payment
Mortgage arrears
Checking your credit record

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