Arrangement to Pay (AP) query.

Rrushi_Shqiptar

Does an arrangement to Pay marker act the same as a default?

I have an AP marker on my CRF (Equifax) for a mortgage, this was settled in full after the sale of the property.

Issue becomes more complicated in that 3yrs prior to the sale and after the AP marker was put on the file i was made bankrupt. This is not showing as a default on the mortgage report (I can not find how out how to show the report as an image here on the forum)

The account is shown as settled in 2013, would any creditor see that their was a prior AP on the account or see that it is just a settled account?

I really would appreciate some help here please as I am hoping to clear everything and start the new yr of with a completely clear and healthy CR as my BR drops off on 22nd Dec 2015.

Thank you.

Rrushi_Shqiptar

I think I have solved my query,


"the situation with a secured debt such as a mortgage is slightly more complicated.
If you carry on paying your mortgage, not falling into arrears, then a default should not be recorded.
If you have stopped paying the mortgage before bankruptcy or when you go bankrupt and a default should be recorded with the bankruptcy date.
If you initially carried on paying the mortgage after bankruptcy but later stopped, the default date should be the date you went bankrupt, see ICO guidance in 2007 which stated:
“[paragraph 14] [If the loan has been included in a bankruptcy] the default should be filed in accordance with the guidance in paragraphs 47 – 48
[paragraph 48] If the customer stops payment at a later stage, the default recorded should show the date of the IVA or bankruptcy and the fact that it was settled only by IVA or bankruptcy…”


Paragraph 48 states

"Where a customer continues to pay a debt in line with the original contractual obligations, despite the debt being included in a bankruptcy or IVA ( including where the bankrupt agrees with Official Receiver that payments will continue), the lender would not be obliged to record the account as in default. If the customer stops payment at a later stage, the default recorded should show the date of the IVA or bankruptcy and the fact that it was settled only by IVA or bankruptcy as described in paragraph 51."

INORMATION FROM DEBT CAMEL and the ICO Guideline 2007

I have written to Equifax and The creditor, whom I may add has already been fined by the FSO and compensation paid out as a result. I hope this will make them mark it up accordingly so that it drops off with the BR.

I had this account prior to the BR, the account had defaulted several times prior to it and eviction notices placed but challenged and company criticized. After the BR defaults/non payments to account did occur, especially after the announcement of the forced sale by the IP, therefore I feel it should be marked up as so.

Thanks for reading, comments or suggestions would be gratefully received.

boo_star

If it's a pre-bankruptcy debt then it is defaulted from your BR date.

As it hasn't been you need to contact them to let them know of their "error."