Loan default

timbot

I received a telephone call from my Private Banking Manager a year last January (almost 2 yrs ago) saying there were not enough funds in the account and that there wasn't enough to cover my outgoing loan payment that day. I said I'd messed up and didn't have any extra funds to pay in that day but would a week later when I paid myself (I'm self employed). He said not to worry and that he'd sort it out so that it cleared.
In July this year, I signed up for Experian as I'd like to apply for a mortgage next year and I found no funds had been transferred that January and that it was recorded as paying one month late every month since then. My credit rating (as you can imagine with about 20 late payments) was terrible as a result of this.
While it's my fault for a) not having the money and b) not checking the loan payment had actually cleared, I'm a bit depressed by it all as my credit rating is pretty trashed.
Can anything be done about it or should I just satisfy myself that it really was my fault and learn from it the hard way?

PNPSUKNET

you could try complaining to the bank, but been honest they may turn around and say its your fault as you know the loan payment date

timbot

You're probably right- there's not much point complaining and I'd feel morally wrong doing it anyway if I'm being honest. Just a shame it shows up as 18 late or missed payment on my credit report when I only missed one.