Urgent help needed - lloyds bank ar

modder25

Hi all,


I really need some help on this one and I'm sure someone on here can tell me the right thing to do.


I signed up last night to checkmyfile.com to do the obvious and am really worried at what I have found.


I had a closed and settled credit card with Lloyds Bank opened in 2004 which I settled in 2010, however before this in 2008 I was in a bit of trouble financially so phoned them and told them the situation and was told that they would help me and lower my payments till I was able to make the right payments again, which of course I was happy with. I went along with the lower payments for just under 2 years until I was confident I could afford more, 4 months later after going back to the contractual amounts I cleared the whole balance off after coming in to some money from family and the credit card was then closed.


I have now checked my file on the above website and can now see that Lloyds Bank have placed AR markers on my file from September 2008 all the way to May 2010, then I have 4 months of OK markers then I settled the balance and closed the card in September 2010, there are another 3 months of OK markers but not sure why.


I am astonished with Lloyds for this as I was never told that an AR marker would be registered to my file, if I had of known this I would never have agreed to the lower payments and would have tried another avenue, maybe family or something but I thought Id do the right thing and tell the bank first.


So... I call Lloyds Bank today and speak to a Customer Services Manager in Complaints. After explaining everything to him and going back and forth on hold between him and another advisor I was told that "yes" Lloyds Bank have not given me the required information to the new formal agreement and that they understand my concern... for this he came up with a compensation offer of £50.00 and my phone call costs back and then that would be the end of the matter but that my credit file would not be altered and the AR markers would stay.


I have not accepted this offer from them as £50 is not going to help me at all as I still have another 2 years before this will drop off my file. I explained that if I didn't do the right thing and phone Lloyds Bank and just stopped paying then I would have had a default registered against me for non payment but I would have been better off for doing that as it would have dropped off my file this year, I am not like that however and have done the right thing and have been misinformed by one of their employees but I still have to suffer for another 2 years with these AR markers on my credit report.


At the end of the phone call he explained that he would send me a letter of what has happened today and that if I want to take it further then I will need to speak to the financial ombudsman and that he will send me a leaflet of their details.


Can anyone help me and advise on what I should do now as I am unsure on what rights I have and to what I should do to get the best outcome, or should I just wait for the leaflet to the ombudsman to come through the post?


Any help will be much appreciated.


Thanks.

happy_bunny_2

Your only hope us the ombudsman. Free, worth a shot.

They are correct in what they report.

I would tell them to stick their £50.

The key will be the fact they never told you about the AP marker, which they admit to, and giving the FOS the details of where the money would have come from to avoid this.

ARs 4+ years old are not too bad, depending on what credit you need.

modder25

happy_bunny wrote: »

Your only hope us the ombudsman. Free, worth a shot.

They are correct in what they report.

I would tell them to stick their £50.

The key will be the fact they never told you about the AP marker, which they admit to, and giving the FOS the details of where the money would have come from to avoid this.

ARs 4+ years old are not too bad, depending on what credit you need.

Hi happy_bunny,


Thank you for your reply.


Them offering me any sort of compensation in itself looks like they know they are in the wrong don't you think?


I'm hoping to buy a car at the end of the year mainly on finance of around £15k and £4k to put down in cash.


As soon as I am searched though this is going to come up and decline me I'm sure

happy_bunny_2

May be ok on car finance, but the rate may be higher.

The FOS can take months to sort, so do it ASAP.

They sometimes offer compensation to make you go away. Trouble is, the FOS can be inconsistent in their verdicts.

Good luck

HB

modder25

happy_bunny wrote: »

May be ok on car finance, but the rate may be higher.

The FOS can take months to sort, so do it ASAP.

They sometimes offer compensation to make you go away. Trouble is, the FOS can be inconsistent in their verdicts.

Good luck

HB

Thanks again HB,


They are trying to take the easy way out knowing that they have messed up im sure. As soon as I get the paperwork I will start my case.


Thanks for your help

modder25

I think I will definitely need help with wording my case so if anyone here can help that would be great.

Many thanks everyone

stclair

As you wanted to vary your normal payments. What was you expecting them to report?

They may say the the terms and conditions say they will report how your account was managed and it's a true reelection.

modder25

stclair wrote: »

As you wanted to vary your normal payments

What was you expecting them to report?

How about an explanation of the implications "of going with the advisors lower your payments option" to your credit file?

Maybe if the advisor had said this would alter what we register to the credit reference agencies then I wouldn't be in this situation.

Lloyds have admitted that they haven't given me the correct information hence their rubbish compensation offer.

But thank you for your input anyway.

stclair

modder25 wrote: »

How about an explanation of the implications "of going with the advisors lower your payments option" to your credit file?

Maybe if the advisor had said this would alter what we register to the credit reference agencies then I wouldn't be in this situation.

Lloyds have admitted that they haven't given me the correct information hence their rubbish compensation offer.

But thank you for your input anyway.

Let the forum know how you get on with it could be the next big court ruling.

As I'm sure their will be loads of people on the forum in the same circumstances.

Which will prove very useful to most people. Maybe Martin could put a template letter together.

dumpyboy

The effects of arrangements markers are a whole lot of trouble credits use these instead of defaults as they know defaulted account will be gone in six years where they can use ar makers for 15 to 20 years

modder25

stclair wrote: »

Let the forum know how you get on with it could be the next big court ruling.

As I'm sure their will be loads of people on the forum in the same circumstances.

Which will prove very useful to most people. Maybe Martin could put a template letter together.

Another useless reply!