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Original poster

DP keeps missing CC minimum payments

23 replies

wintermonster · 17/01/2018 19:06

DP has a credit card with approx £1800 on.

I've just found out that he forgot to pay the minimum payment last month.

His reason was he forgot as Christmas got in the way.

He normally pays a set amount per month that will pay it off so it's not a matter of not being able to afford it.

I advised him to set up a DD for the payment as then he doesn't need to think about it.

He then told me that it has happened a few times as he has been very forgetful (sleepless nights with young baby)

I'm a bit worried because our mortgage fixed deal runs out this year and come Oct / nov time we will be applying to remortgage.

I'm now concerned that these will have a negative affect on his credit rating let alone the annoyance at the additional charges.

We are getting married at the end of the year and he knows financial responsibility and stability is of utmost importance.

OP posts:

pigshavecurlytails · 17/01/2018 19:53

he knows financial responsibility and stability is of utmost importance

no he doesn't

seriously consider if you want to be financially linked to this man via marriage because he doesn't give a toss about financial stability from what you've said

DropZoneOne · 17/01/2018 19:56

Set up a direct debit. I always pay ours off in full but missed a few a couple of years ago when I got busy and the due date would slip my mind. Direct debit just takes that pressure off.

ShatnersBassoon · 17/01/2018 19:56

he knows financial responsibility and stability is of utmost importance

Not really. Failing to set up a DD for minimum payment demonstrates what a loose grasp he has of the importance of those things. It's really a very basic measure to put in place, but he can't be bothered.

DivisionBelle · 17/01/2018 19:57

It is so simple and obvious to set up an automatic minimum payment so what has stopped him doing this? Have you asked him this?

Have you explained the potential effect on your credit rating? What does he say?

Rainbowqueeen · 17/01/2018 19:58

Agree with PP. have a really good think about his attitude to money.

Who organised the mortgage? Does he have a fixed budget for fun spending and stick to it? What does the CC debt relate to?

It is so so important to be on the same page financially to have a successful relationship. Please think really hard

19lottie82 · 17/01/2018 20:10

If you have a mortgage together then you are financially linked and this is likely to have a knock on effect on your credit history too, making you unattractive to future lenders.

If you want to remortgage with anyone apart from your current lender they will do a credit check and see the late payments.

I would be absolutely raging.

My DH has a track record of not being great with money, where as I’ve never missed a payment in my life. We have no joint accounts as I don’t want to be financially linked to him.

Parker231 · 17/01/2018 20:14

Why hasn’t he set up a DD - takes a couple of minutes. To protect his credit position he’ll need to make some catch up payments ASAP otherwise his credit rating is going to decline. Another way is to overpay each month.

MagicFajita · 17/01/2018 20:15

Sleepless nights and Christmas are poor excuses , if he's bad at financial planning then he needs to get good at it!

My exh was crap with money and I was (and still am) paying the price for that. We've been divorced almost ten years.

Think clearly about what you'll tolerate op.

LIZS · 17/01/2018 20:16

Can you afford to pay more an the minimum, otherwise it will just increase over time and never get paid off.

Original poster

wintermonster · 17/01/2018 20:30

Yes he pays more than the minimum.
He normally pays a set amount,

He's very restrained and spends nothing on himself.

I wondered if this would have an affect on the credit rating for when we remortgage in 10 months time.

I assume the responses are a resounding yes

OP posts:

Notreallyhappy · 17/01/2018 20:58

Set up a standing order with him a week before the payment date... tell him to sort himself out or there's chances you'll be screwed when your mortgage deal ends.
Pay as much as you can above the minimum order it will run for years

19lottie82 · 17/01/2018 21:38

“I wondered if this would have an affect on the credit rating for when we remortgage in 10 months time.“

I would imagine so, yes.

shinygoldstars · 17/01/2018 21:41

It shouldn't stop you getting a mortgage but may affect the deal you get. I work for a mortgage lender and we have a separate deal for people who haven't got awful credit but have missed a few payments - it's a couple of percentage points higher than the deals for people without credit issues.

specialsubject · 17/01/2018 21:55

The dd should pay off the lot, he's wasting a fortune in interest.

Missing a payment can really bugger up credit history so he needs to get organised. And Christmas is one day and no excuse for anything.

DivisionBelle · 18/01/2018 05:02

If he sets up an automatic payment for the minimum each month to protect his credit rating he can still make an additional payment of however much he can afford to pay off the debt.

It is ridiculous of him to mismanage a relatively small debt like this. He needs to get it paid off.

Original poster

wintermonster · 18/01/2018 09:02

I called the bank to ask as the responses here where making me worry more than I was initially,

They said as it's only been a late payment paid within a few days it's not counted as a mark on the file.

It's when it's 30 days late it gets marked or 60 days is a harder mark on the file.

Thanks for the advise of paying it off now, if he could he would. I am on maternity leave so not possible just yet.

He's still paying per month above the minimum payment so that it would be paid off in a year.

He is also not paying interest as it's a 0% card.

OP posts:

Mum4Fergus · 19/01/2018 09:52

You generally lose the 0% interest rate if you are late with a payment, might be worth double checking that.

TalkinPeace · 19/01/2018 13:32

winter
sorry but he's being an utter wazzock
set up the direct debit for the minimum
AND make the main payment.

JamMakingWannaBe · 20/01/2018 08:27

Agree with Mum4Fergus. He's likely lost the 0% interest deal due to missed payment. Happened to OH on a 0% card on a similar balance. Not only did he have the £12 late payment fee but interest was £24/month until we got the balance shifted.

MyBoysAndI · 20/01/2018 08:29

So.... are you going to set up a Direct Debit?

Original poster

wintermonster · 20/01/2018 13:54

OP posts:

TalkinPeace · 20/01/2018 16:54

Winter
Not sure why the judgey face .....
your DH has been a twonk with your finances
YOU need to sort them out.
And its really easy.

MyBoysAndI · 21/01/2018 05:28

Was that face at me?

I just don't see the point of coming on here and moaning about your DH if you're not going to do something about it.

You'll only be back here in another couple of month's moaning that your finances are screwed.

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