Missed Payments on Credit File

Steameh

Hi all,

I've been trying to get a 0% credit card but have been declined. I've just found out why.

I have a loan with Tesco, I've always made my payments on time but a couple of months ago when I switched banks the direct debit didn't go through but I made a debit payment 1 or 2 days later. This happened on two occasions.

Tesco have marked this down on my file as missing payments, even though they received full payment days later.

I've just come off the phone to them and they have refused to remove the marks as it technically was a missing payment.

Pretty annoyed at the minute and want to unleash hell on Tesco to get these marks removed. They have just said it isn't their fault so I need to speak to my bank... What is my bank going to be able to do about removing these marks?

Any help much appreciated.

Thanks

Wutang_2

Steameh wrote: »

What is my bank going to be able to do about removing these marks?

Ask them (if its their fault, then they will inform the credit ref agencies).

Steameh

Just tried that they tried to sell me some £6.99 thing or to ring Experian, who will try and sell me the same thing.

Useless!

Wutang_2

Go in to the bank and get them to see that it was their fault and then get them to sort it.

Carry a lump-hammer with you - little financial services trick, always works

Steameh

Grrr no-one is budging. Never, EVER again am I letting any 'service' handle my banking business! EVER!

Experian_company_representative

Under industry guidelines, if the late payment was only late by a few days it shouldn't be marked on your credit report. Go back to your card provider and escalate your query. If you don't get a satisfactory response, ask whichever credit reference agency you've got your report from (assuming you have one) to intervene.

James Jones

Steameh

Experian_company_representative wrote: »

Under industry guidelines, if the late payment was only late by a few days it shouldn't be marked on your credit report. Go back to your card provider and escalate your query. If you don't get a satisfactory response, ask whichever credit reference agency you've got your report from (assuming you have one) to intervene.

James Jones

Thanks for the reply James, very helpful.

I've just checked my statement. The first missed payment was 12 days late, my apologies, I thought it was sooner than that. The second missed payment was 2 days later. Am I still eligible to use what you suggested on the first payment or am I just going to have to suck that one up?

Thanks

Kathpink

Does anybody know who regulates the credit reference agencies? I have been subscribing to Experian for a while now in a bid to improve my credit rating after a divorce a number of years ago. I paid my credit card in full and closed the account in August 2007 after 6 months of late payments which obviously show on the account. Experian show this account as paid in full and closed in Aug 2007 but on applying for a new mortgage the mortgage company use a different credit company (Call Credit) I have never heard of them but they have this card as not being paid since 2007 (obviously as it was paid in full) and the amount outstanding. I have written to them and attached my Experian report I subscribe to.

Surely these companies must share information - what is the advantage of subscribing to one when in theory you would need to either subscibe to all of them (I had only heard of the main 3) or send my statutory £2.00 off to each of them every month. There are obviously other companies popping up - how do I check the information they hold on me. Surely there must be one central information portal?

does anyone know if these companies are regulated?

It will take atleast 28 days for the credit check company to attempt to sort this out. This may effect my mortgage application.

:mad::mad::mad:

Experian_company_representative

Steameh - a payment late by just two days shouldn't be registered on your credit reports. If it has, let us know and we'll query it for you.

Kathpink - there are three CRAs in the UK. Most lenders use Experian, some use one of the others and some actually use two CRAs. It's therefore sensible to check your report with all three agencies from time to time, but as Experian is the most frequently accessed agency this is the one you should keep the closest eye on. CRAs are licensed by the Office of Fair Trading (to operate a CRA) and are registered with the Information Commissioner's Office for processing personal data. Much of the data we hold is also covered by specific legislation eg the electoral roll. I'm sure if you've raised a query with another CRA they'll quickly resolve the matter for you. By law the information the CRAs hold must be accurate and up to date.

James

jon_boy75

Experian_company_representative wrote: »

Under industry guidelines, if the late payment was only late by a few days it shouldn't be marked on your credit report. Go back to your card provider and escalate your query. If you don't get a satisfactory response, ask whichever credit reference agency you've got your report from (assuming you have one) to intervene.

James Jones

James, can you tell us which guidelines please? I have the same issue, payment returned then collected a few days later

thanks

chesky369

......The first missed payment was 12 days late, my apologies, I thought it was sooner than that. The second missed payment was 2 days later......

Does this mean it was 14 days late?