Halifax & Credit File

Snailpace73

Hi,

I am really sorry but not sure really where to post this so thought it would be best to start a new theard.

I am new here and have posted a couple of things last year. I am well into getting my finances sorted. To the stage me and my husband can get a loan in July once previous searches have disapeared.

I have got my credit file as clean as possible till this morning. I recently changed my bank account to the natwest as I am there every day with work banking cheques so easier to keep an eye on my finances better which I am doing.

Sadly my previous bank account was with the Halifax and has an overdraft now of £1,600. I entered a debt management programme with them in December and pay £100 per month which has been paid on time and to the correct amount I have managed to reduce from £2000. Last month I managed to reduce it further by paying an extra £78.

I went and checked my credit file this morning as I am waiting for a search to be removed from last year. It nows shows I have 1 late payment. Which I know I have not as I am checking everying carefully each month to ensure eveything is paid and I know what is left. The late payment is for the Halifax. So I got straight on the phone to them and went mad they say they have not put a late payment on to my file. Speak to credit expert to remove it, I said they can't its you providing the information. They also confirmed I am right up to date with payments and in front with the extra £78. They don't understand why there is a late payment showing. Then the lady spoke to her manager and she said its because I am over drawn????????? But surely I would have late payments along time ago if that was the case????

They have now advised me to send in a copy of my credit report to show the late payment relating to Halifax. I have written a covering letter asking to remove the late payment.

I am right in thinking that as long as I am not late with my debt management plan payments there should be no late payments on my report? Also there should not be any late payments for being overdrawn. I am not over my overdraft as they have removed it. Because once this has been paid off the account is being closed.

Where do I stand with the Halifax, I am right in fighting to have it removed?

I apologise for the long 1st post for I am so angry and upset. I was doing really well. Knowing that in around 6 weeks we should be able to apply between us for 1 loan and consolidate everything together. Now with this late payment showing I can not do anything as my credit score will drop again.

Thanks in advance

Tixy

If you pay less than the original minimum contracted amount a creditor is entitled to enter a late payment, they often won't be legally they are able to, if they do enter such an entry this would usually happen near the start of a DMP. They are also entitled to enter a default on your file if they wish.

They may agree to remove it and its worth trying certainly.

Happytogetdebtfree

All the best with sorting it out xx

Snailpace73

Tixy wrote: »

If you pay less than the original minimum contracted amount a creditor is entitled to enter a late payment, they often won't be legally they are able to, if they do enter such an entry this would usually happen near the start of a DMP. They are also entitled to enter a default on your file if they wish.

They may agree to remove it and its worth trying certainly.

Thank you for your relpy. I have paid the agreed £100 each month since the dmp was set up and they have never put a late payment on before, this is what I can not understand. It is paid direct on the 23rd of each month with another payment going out Monday. I managed to save some money last month and paid of an extra £78 of the overdraft. So I am not in arrears I have paid in advance and up todate. Thats why I can not understand the late payment.

They have not written to me chasing outstanding monies or tried to contact me if there was. So I am just really confused and worried about getting the consolidation loan next month if this is still on credit file.

Thanks in advance for any advice

Tixy

Why do you want a consolidation loan? These are often not the best solution for people. Lots of people on here have used consolidation loans but ended up in more debt a couple of years down the line, rather than less. Whilst the APR may be less than some of your existing debts because consolidations are taken out over a longer period you can actually end up paying more in interest. Plus a consolidation loan on its own does not address the original reason for being in debt.

How much do you owe in total, have you tried/considered other options prior to choosing consoliation? How do you know you will get a loan this time? If you are unable to meet your current credit commitments it could be difficult to get more in terms of a new loan.

I'm not saying a consolidation loan is not the right thing for you, just urging caution based on the experiences of many posters on here.

Might be useful to post up your finances in a statement of affairs to see if anyone can suggest other options for you. How far short are you of being able to meet your contracted minimum payments? might it be feasible to reduce your outgoings somewhere to free up more cash for repayments.