Debt Collectors, will this affect credit rating?

mumsy22boys

Had a problem with our bank in which they overpiad us a while ago, they have now passed to thier in house debt collection agency. So we havent auctually defaulted on a payment as such. Will the debt collection be on our credit file?

Thanks for any replies.

Tixy

Difficult to say without more information.

Are the bank of the opinion that you paid late or paid too little?
If so this would be marked on your file as late or missed payments.
A default can only be registered after they have sent out a formal default notice.

The only other thing that it could show on your file is an 'arrangement to pay' if you have entered into an agreement to clear off arrears or similar.

If its held in house its unlikely that the name on the account of your credit report has been changed.

DarkConvict

I agree it is difficult to say. I do not believe they could issue a default unless the overpayment has breached the overdraft, but late payments maybe possible as you are likely to have an agreement with the bank that they can report your account history to credit report agencies.

Where did the overpayment come from? Did they pay someone elses money into your accoutn by mistake, is it a salary overpayment from an employer?