Default for PCP car payments

jagger86

Hi everyone

After some advice regarding a default for missing the car payments due to redundancy. Built up a few arrears last year however have been making the regular payments plus the arrears for every month this year January up until now. The last arrears payment was August last month so back to the normal ongoing payments as of September.

My question is on experian it is still appearing as a red ! unpaid payment for every month. Should this not be updated to paid now? I am not disputing the default I am just wondering should it not now show we are up to date. Experian is showing the same entry as when it was unpaid.

Any advice please as RCI Financial Services aren't the best at communicating back to us.

Thanks

[Deleted User]

It's correct, until you have caught up - which should be this/next month, from what you say.

YorkshireBoy

The marker on Experian for each month denotes whether - at that time - payments were "up to date" or not....and they weren't.

The record is accurate.

jagger86

Oh ok thanks. So once the arrears are definitely cleared (September report updated) it should then show we are up to date or will it show unpaid until the end of the agreement?

We have one year left on the agreement.

Shakin_Steve

jagger86 wrote: »

Oh ok thanks. So once the arrears are definitely cleared (September report updated) it should then show we are up to date or will it show unpaid until the end of the agreement?

We have one year left on the agreement.

See the post above from YorkshireBoy. If you were in arrears for any given month, that will show up on your credit report. If you fall behind with any kind of agreement, the record of those arrears cannot just be wiped, because future lenders will base their decision on your payment record.

YorkshireBoy

jagger86 wrote: »

Oh ok thanks. So once the arrears are definitely cleared (September report updated) it should then show we are up to date or will it show unpaid until the end of the agreement?

As I said above, the markers denote "payments up to date" (for that month) or not as the case may be, not that they were "unpaid".

If, as you say, you have paid up all the arrears (including any interest/fees etc) then your payments will, from now on, be "up to date"...won't they?

I'd expect '0's from now on.

jagger86

Thank you. I will wait until the end of September then and if not check in with them.

I understand the late payments / default cannot be wiped it's just that I didn't want any future lenders to think we have not paid it for the whole of this year. (Not that we are wanting to lend or are likely to) Just want to make sure the whole mess from last year can be tidied up as best possible basically.