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Re-agreed credit agreement marked as default!
Moonwax
Posts: 63 Forumite
Hello,
My other half had a loan with Lloyds, when she had a few problems she spoke to Lloyds and had the amount she was paying per month reduced as an agreement.
Now we are applying for a mortgage we looked at her files and found since the new agreement they have marked every month as default!!
We were in a position to fully pay the loan as we want this mortgage, so since doing so the account is settled but will always show the default.
What is the best way to approach Lloyds about this as we would like it removed to help us with our mortgage application?
Many Thanks
My other half had a loan with Lloyds, when she had a few problems she spoke to Lloyds and had the amount she was paying per month reduced as an agreement.
Now we are applying for a mortgage we looked at her files and found since the new agreement they have marked every month as default!!
We were in a position to fully pay the loan as we want this mortgage, so since doing so the account is settled but will always show the default.
What is the best way to approach Lloyds about this as we would like it removed to help us with our mortgage application?
Many Thanks
0
Comments
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When she negotiated reduced payments was she warned that it would be registered as a default? If not, or she was led to believe that it would not affect her credit file, the she would have grounds to complain and take it to the FOS if the bank does not correct it.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
That I don't know yet until she gets home. I will see if she has all the paperwork with the re-agreed amounts.
Thanks though, that is something to go on.0 -
In plain english...
Making an agreement to pay less than then contractual amount is defaulting.
If they did not warn you of this at the time you could get it removed but unless you start paying the contractual amount including the back difference then they will most likely default you again leaving you in a worse position.0 -
Just found that the loan went through APEX Credit management to help consolidate her loans.
She has kept up the payments with all off these and recently paid it off completely.
Could be a big problem now :-(0 -
Just to add, I accepted reduced payments to pay back bank charges (!!!) from Lloyds and was not informed about the impact on credit file whether that be arrangement to pay/default.
Needless to say when I have complained it now becomes a 'he said, she said' scenario. The FOS have said that Lloyds are under no obligation to give specific details unless you ask for it.
Bought is to buy. Brought is to bring.0 -
Just found that the loan went through APEX Credit management to help consolidate her loans.
She has kept up the payments with all off these and recently paid it off completely.
Could be a big problem now :-(
If it went through that then it could be a default. Sorry.Still rolling rolling rolling......
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