Arrangement To Pay LTSB

Craig1

Hi, I recently agreed with Lloyds TSB to have reduced loan repayments for 6 months, I asked the lady at the call centre would this have any bearing on my credit report, her words were '' only with Lloyds TSB '' . i have just checked my credit report with Equifax and to my surprise I see 1 month arrears (I never missed any payment as an agreement for reduced payments put in place) and 5 Arrangements to Pay Icons.

I am a bit confused as to what to do next, I am about to settle the arrears and will very soon be in the position to apply for a mortgage.

Will the arrangement to pay on my credit file cause any serious impact on me getting a mortgage approval?

Is there anything that I can do to rectify the situation?

If anybody has any advice or experience with this your comments would be much appreciated.

natweststaffmember

Did you say LloydsTSB?

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6078489.ece

Craig1

It doesn't surprise me, I used to be a Personal Banking Manager for Lloyds, one of the main reasons I resigned was due to the pressure given to lend irresponsibly, I know that we are all grown ups and responsible for our own desicions but there was no way I would be able to afford the loan repayments that were given to me and now they get upset when the customer cannot afford to repay.

If anybody else has any further insight to my first post it would be much appreciated.

esmerellda

Is the rest of your credit file clear?

An arrangement to pay marker is better than loads of Defaults. Once it is paid off get it marked as satisfied. They are allowed to enter a default if you enter a payment arrangement as you have defaulted on the original agreement. I assume you have now gone back to the full payment as you have done the six months reduced payments? This will show up on your credit file too and look much better. Some companies only look at your overall 'score' so it really will depend who you go with.