Understanding Late Payments
At BrightHouse, we’ve been working on our late payments policy to come up with a way that works best for our customers.
What are the charges?
If we do not receive the payment in full before or on your payment date, there will be a late payment fee of £12.
There will only be one late payment charge applied to each period when payments are missed, late or not paid in full under this agreement.
So, if you miss payments at the same time on two or more agreements you have with us, we will apply only one late payment charge of £12 for that week to the agreement which started earliest in respect of which payment has been missed.
The maximum amount of late payment charges payable for all your agreements will be capped at £24 in any consecutive 5-week period and at £48 in any consecutive 13-week period.
How to avoid late payment charges
We offer a range of credit payment options that make it possible for you to maintain your account and avoid any late payment charges.
However, we understand that sometimes things happen that can affect your ability to make payments. If you advise us that you’re unable to make your payment before that payment is due – and make an agreement to resolve your account at a later date – we won’t apply a late charge. If this is not resolved by the agreed date, we will apply a late payment charge to your account at this time.
How will late payments affect my credit rating?
There are many different factors that are considered when calculating your credit rating, but late or missed payments to credit accounts can be a problem when you want to borrow from companies in the future.
If you’d like to find out more, we’ve put together some guidance on understanding credit score as well as how to improve your credit rating.
Our lending policy
While we aim to help anyone purchase the products that they want, we are first and foremost responsible lenders. This means that we will always act in the best interests of our customers. We strictly adhere to the pledges of our Lending Charter which sets out our commitment to responsible lending, transparency and customer support.
Reach out to us
We will always do our best to help you. If you cannot make your payments, contact your store to let them know you won’t be able to. From here, we can discuss your circumstances and agree on a suitable course of action to get your account back on track.
If for any reason you do not feel happy with the support and guidance you receive from our friendly team, please get in touch with our customer relations team here.
Independent debt advice
If you are struggling to manage existing repayments or find yourself heading towards financial difficulty, we want to help you find your way out.
BrightHouse have put together a guide for our customers to help anyone in debt navigate their way back into the clear. See the full guide for more information on where to seek advice if you're in debt here. Organisations such as The Money Advice Service, Citizens Advice Bureau, Step Change and National Debtline provide free, independent advice on how to manage debt.