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  • FIRST POST
    • Omegageneral
    • By Omegageneral 9th Jan 18, 8:08 PM
    • 6Posts
    • 3Thanks
    Omegageneral
    AR/AP Removal Method
    • #1
    • 9th Jan 18, 8:08 PM
    AR/AP Removal Method 9th Jan 18 at 8:08 PM
    Hello all

    Haven’t posted on here much before but I wanted to share some good news regarding my efforts to remove AR credit marks from my credit report as I’m sure many people coming here may be frantically looking for ways to remove these disastrous marks.

    I had 2 account with several years worth of AR markers on my report and have tried for years to get them removed to no avail.

    My mistake?
    Calling and explaining.

    Why?
    Arguing with them over a telephone call never works because 9 times out of 10 the person on the other end either hasn’t got a clue or doesn’t have the power to help which always leads to frustration.

    So on to the good news.
    I got all creditors to agree to remove all negative marks and all in the space of 4 days!!!!!!!!!!!

    How?

    Using this:

    Sir/Madam,

    I refer to the above mentioned (creditor) account which is being reported on my credit reference files.

    (Creditor) has been reporting arrangement to pay markers (APM / AR) on the above account since (date) over (number) years , which places me in a disadvantage compared to a debtor who has had an account defaulted .and therefore will continue to appear on my credit file until (date) It would appear that (creditor) have used arrangement to pay markers in place of a default on the account, It is understood that the Information Commissioner's Office does not agree with this and states that this is Unfair practice.

    The definition of a default
    9 A ‘default’ can be said to occur as soon as a borrower fails to meet the terms of their credit arrangement.

    An ‘arrangement to pay’
    21 This involves a temporary, short-term (up to six months) arrangement where the lender agrees to accept reduced payments

    I believe therefore it is against Information Commissioner's Office guide lines for this debt not to have been defaulted on or before (date).

    I ask therefore that you place a default date of (date) with all 3 credit agencies for the above account. This will bring it in line with my other debts that were all defaulted at the same time as entering my DMP

    These AP/AR markers are likely to cause considerable problems to me financially as the account should have been defaulted in (date) and the default removed in (date) , this data will be displayed nearly (number) years longer than necessary.

    I look forward to (creditor) sending a prompt and proper reply.

    Regards


    I only hope this method helps someone here as much as it has helped me.

    PS my 2 accounts were with large banks.
    Last edited by Omegageneral; 09-01-2018 at 8:13 PM.
Page 1
    • zx81
    • By zx81 9th Jan 18, 8:19 PM
    • 14,934 Posts
    • 15,780 Thanks
    zx81
    • #2
    • 9th Jan 18, 8:19 PM
    • #2
    • 9th Jan 18, 8:19 PM
    Yes, that's the usual way - to get it retrospectively changed to a default
    • Gary_Dexter
    • By Gary_Dexter 9th Jan 18, 8:31 PM
    • 385 Posts
    • 214 Thanks
    Gary_Dexter
    • #3
    • 9th Jan 18, 8:31 PM
    • #3
    • 9th Jan 18, 8:31 PM
    Are the markers not a truthful representation of your account though?

    If you're making arranged payments then the data being recorded is correct?
    • Omegageneral
    • By Omegageneral 9th Jan 18, 8:39 PM
    • 6 Posts
    • 3 Thanks
    Omegageneral
    • #4
    • 9th Jan 18, 8:39 PM
    • #4
    • 9th Jan 18, 8:39 PM
    I could stand corrected but from my research I have gathered that if you fail to pay your debt it first falls to a default and then should you agree to make payments then AR markers can be placed on your file for up to 6 months to show an agreement to pay, I’m sure in reality they would place the markers for a longer term but this wouldn’t matter because the default would drop off after 6 years rendering the markers void.

    In this case because no default had been applied it made the accounts look negative even though I in fact made an effort to pay as where someone that defaults doesn’t make that effort.

    A default - removed after 6 years - someone that doesn’t pay
    AR markers - removed after 6 years of final payment - someone that pays

    So essentially it would say that someone who doesn’t pay their debts deserves a better credit report.

    Hope I made sense
    • sourcrates
    • By sourcrates 9th Jan 18, 9:13 PM
    • 13,094 Posts
    • 12,394 Thanks
    sourcrates
    • #5
    • 9th Jan 18, 9:13 PM
    • #5
    • 9th Jan 18, 9:13 PM
    Any credit account regulated by the CCA that has between 3/6 missed contractural payments, under current guidelines, should be defaulted after issue of a default notice.

    You are correct that an “arrangement to pay” is a short term solution offered by creditors, and should not really extend over more than 6 months.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • KoshB5
    • By KoshB5 10th Jan 18, 8:31 PM
    • 60 Posts
    • 28 Thanks
    KoshB5
    • #6
    • 10th Jan 18, 8:31 PM
    • #6
    • 10th Jan 18, 8:31 PM
    SCOR has some good info on the principles by which CRAs and those who interact with them operate, including the reporting of arrears, defaults... - http://www.scoronline.co.uk/key-documents
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