Understanding One NZ's late payment policies is crucial. Regularly check your credit report for accuracy and dispute discrepancies promptly. Communicate with One NZ, escalate concerns, and, if needed, seek advice from financial professionals to navigate and mitigate credit impact effectively.
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“I had a rather difficult time the last six months, and I was sometimes not able to pay my phone bill on time. I always paid it, though, and twice, I had contacted One NZ in advance and came to a payment arrangement and paid the bill two weeks later, but I had arranged this with One NZ. The third time, I paid on November 1st instead of October 29th. Anyway, these three payments are showing as missed payments on my credit report (use Clear Score). I have bad credit, and this sure isn’t the only reason, but I would have thought if the payments were made, although late, they should be late rather than missed? I have contacted One NZ twice regarding this and was told well it’s out of our control. We can’t update these, and as soon as a payment is past the due date, it is recorded as a missed payment. I am just wondering what everyone’s experience is with this, whether I should try contacting someone else at the company or just accept them.”
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Late payments on bills can indeed impact your credit report, and it’s essential to understand the specific policies outlined in your agreement with One NZ. Please review the terms and conditions to ascertain how late payments are handled and whether they are reported as missed payments regardless of eventual payment. This information can help you navigate the situation more effectively.
Ensure the accuracy of the information on your credit report. If there are any discrepancies, promptly dispute them with the credit reporting agency to rectify inaccuracies. While this may not alter the fact that payments were made late, it’s crucial to represent your credit history accurately.
Continue reaching out to One NZ, and consider escalating your concerns to a supervisor or higher authority within the company. Clearly explain your situation, emphasising the efforts you made to fulfil your payment obligations and inquire whether they can reconsider reporting these payments as missed. Companies often have some flexibility in these matters, and escalating the issue may lead to a more favourable resolution.
If direct communication with One NZ proves challenging, seek advice from a financial counsellor or advisor. They can offer insights into potential strategies to handle the situation and may be aware of any specific regulations or industry practices in New Zealand that could be relevant to your case. Being proactive and persistent in addressing these issues can be essential in mitigating the impact on your credit.
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The views expressed in this article are the views of the author. The information provided is of a general nature and is not intended to be personalised financial advice. You may seek appropriate financial advice from a Financial Adviser to suit your individual circumstances or contact National Capital.
