What is a special instruction indicator?

[Deleted User]

Hi - I have this listed against one of my loans:

Special Instruction Indicator: Arrangement Special Instruction Start Date: 01/05/2009 Special Instruction End Date: 01/06/2009
I am not sure what this means - can someone help?

I was late paying my loan three and four months ago, but only by a week and certainly didn't receive any defaults or anything like that. I've made the last two payments on time and in full.

What does 'special instruction indicator: arrangement' mean?

Thanks.

fermi

Just a heading to enter information that can't fit under the normal fields in the report for a credit account.

In this case Experian (for example) classifies an "arrangement" as "The lender has agreed to vary your payments for a time.".

If no default, then payment history will be the only thing that effect you. Probably not that much if soon sorted out.

[Deleted User]

But they haven't...

fermi

Deleted_User wrote: »

But they haven't...

Query it with them then. And if necessary dispute it.

It may just have been done automatically, given that contractual payments were not received on time. These systems are not that bright.