Late payers risk losing out in future

By The Newsroom
Published 6th Feb 2011, 20:30 BST
Updated 8th Feb 2011, 20:58 BST
One in six Britons missed at least one regular bill payment last year, jeopardising their chances of being accepted for a loan or credit in the future.

Almost half of those failing to make a monthly instalment missed credit card payments, according to new research out today from comparison website Moneysupermarket.com.

It said over eight millions Britons missed paying regular monthly bills in 2010, putting their credit profile at risk and reducing their prospects of securing a credit card, mortgage or personal loan. Those failing to pay credit card bills also risk late payment charges and possibly losing short-term promotional rates on interest-free balance transfers.