Excess on Loan

richb83_2

Morning all, new here as a member but frequently look up the great tips and hints on this site.

Looking for a bit of advice with my current loan.

Today I went to my branch to try renew my loan, add some more pennies to it to get rid of a credit card with fairly high interest. Now I have never missed any payments on my loan or credit card, and last time I checked my credit score is Ok (not perfect but pretty good).

So we go through the process of applying for the new loan and its comes up on the screen that it will be 'more than likely declined'.

I'm like ask her why and its because I have an excess on my current loan (e.g. missed a payment). Now as said before I have paid every payment on time, so I know I have never missed one. So she digs into my loan to find out why...also bare in mind I have never been notified that I have missed a payment nor that my loan was in excess.

Then I remember the following, which I explained to her;

Back in 2009 I took out a loan with my bank. The repayment date was for the 15th of the month, which at that time was my pay date.

At the end of 2009 my work decided to change my pay date from the 15th to the 27th. Me been picky with my bills I decided to change my repayment dates to either the 27th/28th to follow suit with my pay date change.

So in Jan 2010, once I had paid my January 15th payment on my loan I rang up the bank to see if I could change my February payment date from the 15th to the 27th. I was told this was possible and would be come into effect.

However, on the 27th Jan, I checked my account to find they had taken a 2nd payment from me for that month, so instead of the date moving to 27th Feb, they took a payment on the 27th Jan too. I couldn't afford this, 2no payments from one payday, so I got back on to the phone to them to find out why they had taken the 27th Jan payment...when as far as I was aware the next payment should be Feb 27th. They said they would refund me the payment and then, as previously agreed the next payment would come out on the 27th Feb...here is where I thought was the end of that.

She said that this could be the reason why its showing an excess and she will look into it, by either raising a concern/query and get back to me next week.

If this excess turns out to be because of that hiccup, on their part back in 2010, my credit rating has been effected, e.g. I did try back September last year to get a new contract mobile but that was also declined...even though I couldn't understand why...my credit history is good (or so I thought).

Now, where do i stand with this?
Would my credit rating improve once they clarify I have never missed a payment or is there something I would need to do to correct it?
Is it worth making an seperate complaint myself rather than just let the bank advisor do it?

BoGoF

What does your credit report show for this account - all '0' which means up to date or are there any other numbers.

richb83_2

Just had a look through its history and it states Up-to-Date all green....all payments are Up-to-date on my 2 credit accounts (loan/CC).

I have a FAIR on rating (just under good) 2 credit searches within last 6 months (mobile searches O2 and Vodaphone) is the only Orange on my rating.