Tesco Loan Screwed up my Credit Rating.. Complain?

salsa_rara

Hi,
My mortgage application was declined last week, so I run my credit report. It showed one late payment in Dec and since then it was 'AP', which is arrangement to pay. I found out yesterday that it means I only pay a minimal amount on my loan which ruining my credit score/report. :mad:
The late payment was due to changing banks and my new bank not transferring the DDs over in time. I told this to Tesco at the time and paid my loan over the phone... Yet it still went on my report. However, which is really infuriating is that they put the 'AP' on as well which was completely uncalled for. It ruined my rating resolting the above. I had an offer accepted on a property but I have to move fast on it. This delayed me weeks which might result in losing the property.

Should I complain to Tesco? Or is it a waste of time?

Cheers.

opinions4u

Did you miss a payment or pay late and then make an arrangment to put it right?

salsa_rara

opinions4u wrote: »

Did you miss a payment or pay late and then make an arrangment to put it right?

It was one late payment due to the bank change... Yes, arranged for the DD to be set up the same day as I paid...

opinions4u

So an accurate reflection is on the credit file.

No harm in asking them the question, but it sounds like the file is an accurate reflection of the facts.

JimmyTheWig

Sounds to me like it's the bank's fault for not doing the transfer properly (or not explaining the transfer process properly) rather than Tesco's fault.

little_miss_muppet_face

When setting up any kind of DD for credit card / loan payments etc it always says to continue to pay until you know for sure that it has gone through.. Probably not what you want to hear but it is what it is .. Hope you manage to get your mortgage sorted out..

camuk81

Salsa, Did you pay on the same date?

I can see both sides however if you realised and paid straight away you still made a payment.

I know they will say it will have to stay on as factual however an arrangement to pay is quite a severe mark to put on. If it was my account I would contact them explain the situation and ask them nicely to remove or amend it to a one marker.

salsa_rara

Yes, the Late Payment I can live with but the 'Arrangement to pay' puts the spanner in the works... Which isn't the true reflextion. It put me in the category which means I'm unable to pay my monthy payment to them. Which means I'm a risk to take a mortgage out... That is the problem...

salsa_rara

camuk81 wrote: »

Salsa, Did you pay on the same date?

I can see both sides however if you realised and paid straight away you still made a payment.

I know they will say it will have to stay on as factual however an arrangement to pay is quite a severe mark to put on. If it was my account I would contact them explain the situation and ask them nicely to remove or amend it to a one marker.

Exactly, it might cost me the property...!!! AP is not factual reflextion and never was... Should've never gone on my report...

Fly_gal

You can put a notice of correction on your credit report to explain the situation. This will show up when companies look at your report.

salsa_rara

Credit report is now amended... But it took me a week and an awful lot of stress to get it sorted... They didn't make it easy at all... Ruined my reputation for months without my knowledge. So should I complain about it or would it just be a waste of paper.?