Ar rejected blacklisted for life

RuthnJasper

dumpyboy wrote: »

I am not posting for fun /trolling I am serious about if you have read my other post you will see since late 2006 early 2007 I have brought a debt down from 78000 to around 10000 the 7000 would clear the lot 2 defauted accounts and the one showing arrangement which is a bug the real bug bear they have a head line arrangement marking it monthlyas they reduced the interst , that I am not meeting my monthly contract payments to start with in 2007 only half but now 3times the miminum payment on the card. I have not come 7 years to take the advice of a debt mangement company to stop paying let it default then set a new repayment plan in place or a part settlement.i did not think going on a repayment plan for 14 years or being took to court knowing what I know I would have let them take me to court in 2007 as I now know they would not have got more then 200 pound a month. So I am very serious over this

OK, in that case, please forgive me for any offence caused - your posts are a little hard to understand, but my words were kindly-meant.

Good luck in getting the situation resolved.

dumpyboy

Gordon_Hose wrote: »

If you in an arrangement to pay then they have to record it as such.

I think how it s reported ie a monthly defaut for not makeing contract payment an arrangement for a reduced interest rate (still higher then some cards normal rate) I think the credit reporting system is very unfair

dumpyboy

RuthnJasper wrote: »

OK, in that case, please forgive me for any offence caused - your posts are a little hard to understand, but my words were kindly-meant.

Good luck in getting the situation resolved.

I do think I find it hard to get across what I mean

RuthnJasper

dumpyboy wrote: »

I do think I find it hard to get across what I mean

Some people just do - it doesn't mean that you are stupid though.

Best wishes.

Thrugelmir

[QUOTE=dumpyboy;66490368_I_think_the_credit_reporting_system_is_very_unfair[/QUOTE]

Without the facts how can any business make any informed decision. No business wants to do business with a bad payer. That's life. Nothing to do with fairness. As obtaining credit is not a necessity.

dumpyboy

thebritishbloke wrote: »

It could still be reported for 16 to 18 years if you had an AR with them to pay them X amount until the debt is repaid. Credit stays on your report for 6 years from the date of final payment, if it would take you that long to pay it off, it would still be on your file regardless.

If you want the debt to "disappear", then you're looking at bankruptcy, which is a very very big step to just having a single AR.

Defaulted accounts go six years weather paid or unpaid but a account with and arrangement on can be reported negatively till six years after it s closed with a negative status every month

thebritishbloke

dumpyboy wrote: »

Defaulted accounts go six years weather paid or unpaid but a account with and arrangement on can be reported negatively till six years after it s closed with a negative status every month

Yeah sorry for any confusion, that's what I was trying to get across. Having an AR marker, regardless if the default is over 6 years old, would still show to a lender that they defaulted the account.

glentoran99

thebritishbloke wrote: »

It could still be reported for 16 to 18 years if you had an AR with them to pay them X amount until the debt is repaid. Credit stays on your report for 6 years from the date of final payment, if it would take you that long to pay it off, it would still be on your file regardless.

If you want the debt to "disappear", then you're looking at bankruptcy, which is a very very big step to just having a single AR.

no it doesnt, if its defaulted its only reprted until 6 years after that

Eonel

It is a big anomaly in the credit rating system that someone who makes the effort to service their debts under an Arrangement to Pay creates longer term problems for their credit history than those who fail to pay.

This is not how the system should work. AR & Default are both negative marks and should be recorded truthfully. However Lenders should not be as negative about long-dated ARs - it shows the borrower is consistently paying it back. A Defaulter has not been so consistent or has walked away completely

Trying to convert the long-dated AR into a default is not the right solution but was the only option available to the OP. To treat consumers fairly, an AR should fall off after 6 years like a default does. Or there should be longer reporting of a Default.

glentoran99

Eonel wrote: »

It is a big anomaly in the credit rating system that someone who makes the effort to service their debts under an Arrangement to Pay creates longer term problems for their credit history than those who fail to pay.

This is not how the system should work. AR & Default are both negative marks and should be recorded truthfully. However Lenders should not be as negative about long-dated ARs - it shows the borrower is consistently paying it back. A Defaulter has not been so consistent or has walked away completely

Trying to convert the long-dated AR into a default is not the right solution but was the only option available to the OP. To treat consumers fairly, an AR should fall off after 6 years like a default does. Or there should be longer reporting of a Default.

6 years after what? first payment ? last payment?