voluntary arrangements finished but still reporting on my crecit file. Is this right?

joleeds

Hi All,

I'm new to all this! So hope what a put down makes sense!

A couple of years ago I got myself in a bit of a pickle with credit cards, so I thought the best option was to get in touch with each company and let them know.

Most of them where brilliant. I went through an income and expenditure form, and they agreed to freeze interest and accept a reduced repayment. Brilliant I thought, I could eat again and put the heating on!

Now I have turned the corner, still owing some money on the cards but in a much happier financial position following a promotion, I contacted the banks to let them know. I asked them to put me back onto a normal monthly minimum repayment (which I overpay generously) and to start applying interest again. Honest of me I thought, after all they helped me I may need their help again in the future so best not take the mick.

Only thing is they are charging me interest, accepting my much higher repayments but still reporting on my credit file that I have a repayment arrangement which is completely black listing me. I recently wanted to switch mobile phones but was shamed out of the shop, I wanted to get car insurance and they loaded my monthly premium! What can I do to get them to correct this. I have rung and they have said for the passed 3 months that the credit reference agencies will eventually catch up. But 3 months of waiting and no such luck.

Advice please!

Tixy

Hi

Presumably you have checked your credit reports again recently? what does these account actually say?
The banks should remove any reference to 'arrangement to pay' but any defaults on your file will stay on for 6years from the date they were entered and can affect your ability to get credit for the whole of that period.
If it is still showing as arrangement to pay you may find that a letter to the creditors asking them to correct this is more effective than a phone call.