How to remove Delinquent account

Campol2308

So, I've had my credit card with the same company for 9 years.
I got into some trouble, mental health wise, and decided I would agree to only pay £50 a month to them. They did not tell me what would happen to my account on my credit report.

Anyway, a year after this happened, and 6 months since it finishes, I'm trying to get a mortgage. I have a good income and deposit.

My credit card company are refusing to remove the delinquent account. Despite me telling them, they took advantage of my mental vulnerability, for their own financial gain, and they failed to give me all the correct information... (I do have a mental health diagnosis).

I feel it's extremely unfair, given one 6 month period in 9 years, I struggled, and actually, I paid the agreed amount. My account is now fully up to date and paid correctly.
If they had told me the account would I to delinquency, I probably wouldn't have gone a head.

Is there anyway to make the company remove this? I have read that they can if they want too... Seemingly, they just don't want too. Despite taking advantage of my illness??

Help! Please!!! 😪

Campol2308

Just to add, they did do an income and expenditure form, which I don't think really should have allowed them to propose this agreement with me!

[Deleted User]

They don't appear to have taken advantage of you.

Especially as they seem to have proposed a repayment plan with you, which has assisted you.

Did you have an alternative means of repaying? If so, why did you not pay in full?

Shakin_Steve

Campol2308 wrote: »

So, I've had my credit card with the same company for 9 years.
I got into some trouble, mental health wise, and decided I would agree to only pay £50 a month to them. They did not tell me what would happen to my account on my credit report.

Anyway, a year after this happened, and 6 months since it finishes, I'm trying to get a mortgage. I have a good income and deposit.

My credit card company are refusing to remove the delinquent account. Despite me telling them, they took advantage of my mental vulnerability, for their own financial gain, and they failed to give me all the correct information... (I do have a mental health diagnosis).

I feel it's extremely unfair, given one 6 month period in 9 years, I struggled, and actually, I paid the agreed amount. My account is now fully up to date and paid correctly.
If they had told me the account would I to delinquency, I probably wouldn't have gone a head.

Is there anyway to make the company remove this? I have read that they can if they want too... Seemingly, they just don't want too. Despite taking advantage of my illness??

Help! Please!!! 😪

You decided that you would agree to pay £50 a month? Sounds a bit one-sided

societys_child

Nothing to do with your mental state, you didn't/ couldn't repay your debts, and this has been noted, as it should be.

Dobbibill

I hope your mental health issue is now under control and being treated.

They have to report factual information - you had an arrangement to pay which is factual and therefore not paying in line with the terms of the account.

Any information is stored for 6 yrs so from what you've said, it looks like a further 4 and a half years before this drops off your CR naturally. You may be able to get a mortgage before then with a good broker.

If this was to happen again in the future, you may lose your home - much more difficult consequences to work around and potentially an additional stress adding to your health condition.

[Deleted User]

Try a "whole of market" broker, they have access to more lenders.

jessex1990

It should be marked as AtP "Agreement to Pay". Also many banks have a specialized "vulnerable debtor department" who will deal with it instead of the usual debt collection procedure. They can't ask you to pay anymore than your finances allow them to or that you have said you feel comfortable doing.

Your credit file will have a monthly tracker and they can see how far into your AtP you actually paid it off. Any potential lender can see that you no longer owe this company money. I fail to see how it is for their financial gain when you make an agreement to pay with them they are freezing fees and interest - they are in fact losing money.

Campol2308

Firstly, I could have paid the debts. And they would have seen that from my income and expenditure form, so they shouldn't really have agreed to an agreement. But yes, my mental health at the time absolutely didn't allow me to see this. Because I want in a sound position to make this financial decision. Which is recorded with social services, psychologists and welfare teams throughout. So yeah, mental health did play apart, my finances did not.

They did not tell me that the account would then be classed as delinquent. Even though I asked out right-what will this do to my credit. As some else said, they said, there would be a note I came to an agreement with them. That's not telling me, my account will be delinquent.

Yes, it was one sided, as they did not have to chase me for the money at all. I rang them, and asked to pay £50 month. It's not like they had to chase missed payments with me.

The reason I felt I couldn't afford of (I absolutely could have) was because my sons father stopped paying child support.., again after 9 payments in 22 months. Not like I simply over spent what I didn't have.

Ive not really found this a very helpful, sympathetic, understand or nice experience on this site tbh.

Thanks for pretty much just giving me grief about an episode in my life I cannot even recall properly and it's now ruining my life.

Not really what I asked for.

Campol2308

Because I could have just walked away and not paid a penny? That simple. People do it every single day.

Campol2308

Which with what they've done to my credit report, I may as well have done.