Loan agreement showing as late payment on credit file

shomk

We have a loan with HSBC and we recently asked that we may have a 3 month break as we we struggling.

The bank suggested that we pay half the monthly loan payment for 3 months and then went back to our usual monthly payment, plus the half we had a break on for the following 3 months.

We had 2 phone calls from the bank after the first payment went out to say that we had not paid and this would go on our credit file. We explained the agreement and they agreed it was their fault that it hadnt been noted properly and it was ok and nothing would show on our file.

We now see that our files are showing late payments for the last two months and of course there will be a third month. We are very unhappy and have been into our branch to discuss the matter but they said that the arrangement would show on our files and just tell you to phone the loans people who as they sound as though they are situated in India they dont even understand what the credit file is! We have just been refused credit due to this and it is going to show up for months.

We are going back into the branch this afernoon to try and sort it out- any advise please!!!!!

LDJ2009

Hi, unfortunately i beleive the credit file is correct as you haven't made your full payment as per your credit agreement. In theory, they are saying you are late with the payments until the arrears are cleared despite having an agreed arrangement with them

This happened to me with my Cahoot account as they agreed for me to make a few reduced payments until i sorted myself out and both months showed as late payments

[Deleted User]

Why are you trying to apply for credit if you can't even afford your full months mortgage?

brians_daughter

if you havent made to full payment only partial then, in theory the payment is late. ALSO, You may find that they place an 'arrangement to pay' on your file. ie the lender has decided to agree to partial payment rather than the agreed payment. This alerts other lenders that you cannot repay your current debts so more lending is doubtful