Jump to content


If I set up a direct debit for a utility bill, will the address for that property be linked to my credit report


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2799 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi There,

I hope you are all well!

 

As the title suggests, I'm just fishing for information about exactly what happens when one sets up a direct debit ... is it only if i miss a payment that the address would be passed to the credit agency?

 

Thanks in advance,

James.

Link to post
Share on other sites

A Direct Debit is a mandate allowing a creditor to debit funds from a bank account for a given or variable amount,

if a DD is not paid the creditor is informed that the application for payment has failed this is not immediately reported by the creditor to any credit reference agency.

 

If you miss 3-6 payments the creditor may inform you that it intends to default the account (default notice) and will give you 14 days to remedy the status of the account by paying the arrears, if you do so the creditor does not report this to the agencies.

 

Some types of accounts are reported on monthly and late or missed payments are automatically reported to the agencies.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

Hi BRIGADIER,

I think i get it ... it's not a credit account until I haven't paid a bill, and thus they are giving me credit!, at which point it might end up on my credit report.

Does this apply to, say, EDF energy for instance?! Or would they report the account monthly as you suggest (I'm assuming this means that it will end up on my report regardless)?

 

Thanks for your detailed explanation :0)

 

Cheers,

James.

Link to post
Share on other sites

It seems all the energy suppliers us the same criteria when reporting to the4 CRAs.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...