Mortgages

Late Payments

credit card It is inevitable that at some point we will forget to pay a bill, especialy if you hold more than one card each with a different due date. Some people add a minimum payment direct debit to their monthly outgoings.

In fact it has been calculated that the average person incurrs up to four charges each year, this sounds a lot until you realise that over 60% of people that took part in a recent survey had no idea how much they had spent or how much overdrawn they were each month!

 

compare credit cards Credit card companies will often encourage payments to made via direct debit to avoid late payments. Some companies will allow late payments to be made over the telephone using a Switch card although this is not something encouraged.

A £20.00 to £25.00 late payment charge is the average amount although many companies are able to wave the charge if the circumstances are exceptional and not too frequent.

Get Your Free Mortgage Quote Here