Arrangement to pay on credit file

Tomuk_2

Hi all,

Just checked my credit file, everything is perfect apart from a lloyds loan, It is reported from January 2007 to march 2010 as an arrangement to pay! I have no knowledge of this I thought it was a re finance, I can even remember a new loan pack that came.

Also among the arrangement to pay I have recorded in August 2008 a 6 months late, but payments made before and after! Also in July 2009 6 months late, and August 2009 2 months late, it makes no sense.

I took out the loan in 2006, in jan 2007 I lost my job, I asked if they can help and I was offered a lower payment, after 6 months I was offered a new loan at a far lower apr, so I am not disputing the arrangement to pay from jan to June 2007 as that's true however after this I was under the assumption I was on a new loan.

I found out in 2010 this was not he case, I said I want to keep my payments the same if ok and they offered yet another loan at a higher rate I was offered before but over a longer period of time as the original offer had expired.

Not happy! How can I dispute this? I don't even think my original loan was enforceable? I'm not trying to wriggle out of paying it, but I don't want my credit file stuffed for this which it is.

Thanks in advance

[Deleted User]

Tomuk wrote: »

I don't even think my original loan was enforceable?

Why is that?

Tomuk_2

Deleted_User wrote: »

Why is that?

Been reading around the forum about loans taken out around this time, banks not having the signed copy.

I asked them for a copy of the agreement signed and they didn't seem to confident about being able to send it.

That's a side issue anyways, not looking to get rid of the loan just help more around this arrangement problem.

Thanks

[Deleted User]

They don't need to send you a signed copy. A reconstituted agreement is fine, so don't distracted by all that gibberish.

You need to contact them to understand why they have marked your file as they have. Either they have marked your file incorrectly (longer than your arrangement to pay) or you misunderstood what you were agreeing to - ie a longer term arrangment to pay rather than a new loan.

Tomuk_2

I already have called them, they said I was on an arrangement. I said who in there right mind would stay on an arrangement for £80 a month at 17 apr when offered a refinance for £80 a month at 4 Apr.

They have opened a complaint to investigate.

Not happy, wasn't happy when I found out I was not on the 4 apr loan, and they wouldn't put me on it as offer expired (even though I took it) this just rubs salt in the wounds.

Tomuk_2

Another question, why does my credit file show data from 2006 onwards? Thought it drops off after 6 years.

Account was settled in April 2010

rizla_king

Tomuk wrote: »

Another question, why does my credit file show data from 2006 onwards? Thought it drops off after 6 years.

Account was settled in April 2010

Account should show 6 years worth of payment data. When you settle the account that freezes the 6 year snapshot, which then shows until the account drops off completely. A bit odd depending on how you look at it but that is they way it works.

Tomuk_2

Your joking, so this could ruin my credit history for a further 2 years? Lloyds better fix this or they will get 2 years of Complaints haha.

Would the arrangement to pay be what's hurting me, or the couple of 6 month late flags that are on? Understand they both will to a degree but what's worse?

rizla_king

Tomuk wrote: »

I already have called them, they said I was on an arrangement. I said who in there right mind would stay on an arrangement for £80 a month at 17 apr when offered a refinance for £80 a month at 4 Apr.

They have opened a complaint to investigate.

Not happy, wasn't happy when I found out I was not on the 4 apr loan, and they wouldn't put me on it as offer expired (even though I took it) this just rubs salt in the wounds.

You could do a subject access request to see what they say was agreed at the time?

If you believe you were misled then perhaps take the matter to the FOS if Lloyds reject you complaint?

rizla_king

Tomuk wrote: »

Your joking, so this could ruin my credit history for a further 2 years? Lloyds better fix this or they will get 2 years of Complaints haha.

http://forums.moneysavingexpert.com/showpost.php?p=61521715&postcount=2

Experian_company_representative wrote: »

When an account is closed it is frozen and retained for six years. So the status history will be the six years before the settlement date and this will not change again until the account is dropped.

James Jones

Crap isn't it?

Tomuk_2

Crap isn't it?[/QUOTE]

It is! Well I'll see what they say about my complaint, I should be ok as they said they can listen to the calls so that should clear it up.

But if not, any ideas what is hurting my score the worst? The 3 or so years showing arrangement to pay, or the couple of 6 month late payments on file? (Which is defiantly wrong also as I didn't miss any payments, just agreed less with a new loan.

:money: