Why the declines?

Thrugelmir

The arrangement to pay is the issue. Applying for new credit facilities is the issue as lenders now have a duty to lend responsibly. Doing so while you are struggling to meet existing commitments would break the rules.

matttye

You-kip wrote: »

Trev you being an Underwriter I would've thought that you'd know that AP is arrangement to pay not 'agreement to pay'.

Unless I'm wrong.

Same difference!

rabbit_burrow

Thrugelmir wrote: »

The arrangement to pay is the issue. Applying for new credit facilities is the issue as lenders now have a duty to lend responsibly. Doing so while you are struggling to meet existing commitments would break the rules.

I can understand that. I wish I had checked my file years ago, then I could have had the error corrected sooner

matttye

The challenge is called 'Save 12k in 2013' but people save whatever they can.. I'm aiming for £7k as there's no way I'd be able to save £12k

rabbit_burrow

Sooooo,

Equifax have got back to me again, and basically have said that I haven't missed any payments (um, yeah I know that) and that the arrangement to pay is because I have changed the original terms.

Now, the account shows [EMAIL="360@464"]360@464[/EMAIL], yet the original amount was £300 something, then we fixed the rate in 2008 which is where the £464 came from, but the AP doesn't appear on the file until March '10.

So yes, our original terms have changed, but then doesn't everyone else who gets fixed terms every few years? They can't tell me that every single mortgagee has AP on their file?! Not to mention that the AP doesn't even coincide with the start of the fixed term.

Being fobbed off, and getting irritated. Wish an Equifax representative was on here to see this. They're ruining my file.

izools

This is very much being fobbed off an a totally unacceptable response.

The terms changed, but you entered into a contract with the bank and have stuck to the contract as it appears on the paperwork and as it appears on your credit file e.g. you are paying £464 a month, not a reduced informally agreed amount, and not a reduced payment plan.

Ergo the data is false and inaccurate and must be removed / corrected.

Advise all this to Equifax and put it to them that if they don't fully and correctly investigate the issue as per their obligations under the data protection act you'll refer them to the Information Commissioner (ICO).

Have you raised the issue with HSBC? Have they replied?

rabbit_burrow

Thanks for your advice, I have contacted HSBC (it seems really odd that they would correctly update EX and CC, but not EQ?), will write a letter to them this weekend as a phonecall has clearly not done anything (haven't had a call back)

Drp8713

I had a different problem but eq had cocked up my file while ex and cc were fine.

They also told me it was somebody elses fault in my case my lenders. I told them if they tried to fob me off again i would make an official complaint. 3 days later it was not my lenders fault and they had fixed it.

Threaten to complain, then complain, idrp, ombudsman etc

ChopperST

Surely a phone call to the lender to get them to tell equifax to correct their records.

Equifax's reporting is ridiculous. I recently received 4 alerts telling me new current accounts were open in my name.

When I checked my Equifax report because I've moved house they have deleted all my current accounts and added them again at the new address so it looks like I've opened 4 new accounts!

Callcredit and Experian have simply updated my address on my file.

Thrugelmir

[QUOTE=rabbit_burrow;62388521(it_seems_really_odd_that_they_would_correctly_update_EX_and_CC,_but_not_EQ?),_[/QUOTE]

Financial institutions do not provide data to all credit reference agencies. So some data will be updated on a need to basis, i.e. you apply for credit through a finance house which uses EQ for referencing checks.