Arrangement to Pay

Slightlymiffed_2

I have recently looked at my Credit file and was suprised to see AR against my Barclays current account. On further investigation found it to mean, 'Arrangement to Pay', a marker as bad as a Default to some lenders. Anyway, I wracked my brains and associated the possible cause for this marker with the following incident. I had an Overdraft with personal reserve limit with Barclays, and for several months was well and truly stuck in my Reserve (£1000), being charged £22 @ 5 days. Out of the blue the bank contacted me and asked if I was concerned with the amount in charges I was paying, as they were, so I explained my financial situation to them and they very kindly suggested an easy way to get out of the reserve over a period of time. So I started to reduce my overspend over a 6 month period and returned to the original interest free overdraft. However, it was not explained to me at the time that any form of negative CRA marker would be placed against me! I have subsequently read that this marker will remain for 6 years after I close the account. I still have the account and could have been 3 years closer to a clean record had I closed the account straight away.
My biggest questions are; can I have this arrangement to pay marker removed, under the grounds that I was not advised that one would be placed or the negative impact it would have on my future borrowing? Would a notice of correction help to explain the reasons behind it, if Barclays won't have it removed from record? Thanks

happy_bunny_2

As far as I know they should have explained what they would report on your credit file.

Complain to them that they did not and as such should remove it.

If they reject then take further

Not as bad as a default but still not good.