What if Im only behind in payments because of someone elses mistake – like a mislaid application for interest relief?
A. Falling behind means they flag your loan record, which could eventually get to your credit report. If you fall far enough behind, you might not be able to get loan aid – even though you haven’t actually defaulted. In this case, you’ll have lost your ‘good standing,’ that is, until you pay what’s overdue. So it’s safer for you to make up for the missed loan payments even if they were missed because of someone else’s mistake. You need to keep your good standing and stay clear of default. Document the details while your memory is fresh. Then, once the payments are up to date, show your lender this was caused by someone else’s mistake. Ask them to show that on your record and, if you shouldn’t have had to pay, ask them to return your money.
