Nationwide arrangement to pay on credit file

ganderson1804

Hi

I’m panicking

I today downloaded my credit report from Equifax and everything looks fine and all my payments are up to date except for my nationwide current account.

The background:
I opened the account (Flex Direct I think) and the account came with a £2000 interest free overdraft for the first year. I needed to money elsewhere so transferred out the £2000 to another account in July with the plan to repay by £500 a month starting in December after I had cleared other debts. In November I received a letter to say they were retracting the overdraft and I had 1 month to settle. I called them up straight away to settle the full amount and said I was away to start paying £500 a month to repay it – genuinely I was. The woman on the phone said oh that’s fine, we’ll just reduce it by £500 a month until its cleared. I asked her if this would have an effect on my credit etc and she said no it wasn’t a problem as long as I paid the £500 a month which I have done. All payments have been made and the account is now settled (as of the 28th March). I was in touch with them last night to find out how to close the account.

Then today I see my credit report marked as ‘Arrangement to Pay’ for the past 4 months. I am so mad, disappointed and angry. And now I’m starting to panic this has trashed my credit. I honestly would have settled there and then but she said a staged payment was fine and wouldn’t affect me.

If I call them can they change my credit report? I feel genuinely mislead by them.

Any help or advice is appreciated.

Lioness_Twinkletoes

Did you get anything from Nationwide in writing? Problem is, an arrangement to pay is exactly what you did. An overdraft is repayable in full, on demand.

Can you remember when you made the call? Might be worth trying to get a transcript of the phone call. If you can prove you had that conversation it might help your cause.

ganderson1804

No I never received anything in writing from them. I appreciate that's what I did in fact do but I didn't realise that's what it was, when I called I was going to settle in full. I'm so gutted about this.

happy_bunny_2

You could complain. The basis being that they did not inform you of the adverse info that they would be putting on your file. If you can prove you had the funds to settle and would have done so had you known, that might help, especially if they refuse and you refer to FOS.

Worth a shot...