Arranged Overdraft Arrangement to pay marker

bradleysloan

Hi all,

I have an arranged overdraft with Natwest that between February 2016 and June 2016 i did not make any payments into, just debits. So i had a call from Natwest saying that im required to make a payment of £10 into the account to show i am paying in still, which i completed, infact i paid £50.

I checked my credit score today and they have put an AP (arrangement to pay) marker on for the month of June.

Will this AP marker continue to come up every month until i have cleared the overdraft?

If i continue to make regular payments in every month then surely this will not show every month and only for July?

Also how much will that AP marker affect my credit score/ lending abilitie?

All help appreciated.

Kind regards,
Brad

bigadaj

ring up the bank and ask them to explain.

bradleysloan

They have explained and they say the marker was put there because they arranged a £10 payment. I am going through the complaints process with them, but i cant see it going anywhere. But it was described to me as 'everyhting is fine we just need a £10 payment' when really everything is not fine as i have a black amrker on my credit file.

National_Debtline

Hi

It sounds like the bank didn’t explain this very well to you. If they’re expecting you to clear the overdraft debt now at an agreed rate then they could put AP every month until it’s cleared. If they literally just wanted you to make a one-off £10 payment, then it should only show against that one month.

AP may have a negative impact on credit applications, although it really depends on the attitude of the lender and it generally isn't seen as serious as a default.

James
@natdebtline

bradleysloan

Hi James,

thankyou for your response, they only wanted a one off payment. So i guess it shall only show for that one month which is alot easier to take than if it were to be every month.

Thanks so much for your response its given me some pease of mind.

Kind Regards,
Brad

National_Debtline

You’re welcome. Personally I would contact the bank again to absolutely clarify what the arrangement is. Their communication hasn’t been great so far.

James
@natdebtline

bradleysloan

Hi James,

I certain that this was a one off payment just to show i am still paying in. As no other payments have been discussed and i make regular payments now.

Regards,
Brad

bigadaj

bradleysloan wrote: »

Hi James,

I certain that this was a one off payment just to show i am still paying in. As no other payments have been discussed and i make regular payments now.

Regards,
Brad

It might be worth raising as a complaint, as it sounds as it either wasn't explained properly or the person you spoke to didn't understand, we see frequent reports of poor staff training and communication on these boards.

They have the ability to correct your file with the cra, which is worthwhile as an AP marker is adverse.

jonesMUFCforever

OP is your account in Collections at all - I would not have thought they would have bothered to contact you otherwise.

pogofish

Why has the OP got this thread going in Two Forums?

bradleysloan

bigadaj wrote: »

It might be worth raising as a complaint, as it sounds as it either wasn't explained properly or the person you spoke to didn't understand, we see frequent reports of poor staff training and communication on these boards.

They have the ability to correct your file with the cra, which is worthwhile as an AP marker is adverse.

Yes i have the complaints department ringing me so i can file one. See what happens...

OP is your account in Collections at all - I would not have thought they would have bothered to contact you otherwise.

I believe it was collections who rung...