Arrangement to pay markers

Dnrn84

Hi, I have just finished paying off my vanquis credit card which I had an arrangement of £40 per month for the last 6 years.
I didn't realise at the time that the arrangement to pay markers would cause me more harm than a default.
If I had a default marked when the arrangement to pay started then it would all fall of my file in a matter of weeks, but instead it is now 6 years from when I made my clearing payment. Had I known this I would have made sure I got a default before agreeing.

I have called to make a complaint that I wasnt made aware of the impact of this agreement and to say I would like my file amended to show a default.

My file is the following:
may 2013 - early arrears 1 month late
June 2013 - early arrears 2 months late
July 2013 -march 2019 - AP.

What do you think my chances are of getting a default around 2013?
Looking to buy 1st house in 2020 and this will be the only mark on my file.

Thanks

System

AP markers are dangerous things. And not properly explained by the lenders. They should explain what they are and how they will impact you. My friend had years worth of AP markers on his file for paying MORE than what would have been minimum payment. All because he called up his card company to ask a few questions. I think AP need shaken up. It's too easy for lenders to enable it without explaining whats going on.

https://forums.moneysavingexpert.com/showthread.php?t=5958696&highlight=

Willing2Learn

Hi Dnrn84 and welcome to the forum

There is guidance that says accounts should be defaulted when an account is 3-6 months in arrears. Basically, this is because an AP marker "should not result in the customer being placed in a worse position than someone who had made no effort to pay whatsoever". If you hadn't honoured your arrangement, then the account would have been defaulted, and your credit file would currently look much better. The guidance is all about fairness.

It is only guidance. Your creditor is not compelled to comply with any request you make for a default backdated to when you were 3-6 months in arrears. They must however, have due regard to the guidance.

Have a look at the thread linked below. Pay particular attention to the guidance quoted in post #4. Ask your creditor to default the account, backdated to when the account was 3-6 months in arrears.
https://forums.moneysavingexpert.com/showthread.php?t=5598629

Dnrn84

Thanks, I guess I'll just have to wait and see what they come back.

[Deleted User]

Ask by all means but they're not obliged to do it, so don't be put back if they say no

MovingForwards

I never got mine changed from AP and got a default put on. Mine only shows on one CRA.

I don't think companies realise the actual effect of having APs as they do seem to think it's the same as a default and don't appreciate it stays for 6 years after the last payment.

The_Analyst

My wife and I had 2 AP markers. One each on our accounts after a default against (I think) Egg.
I battled and battled with Idem to get them to remove or amend. In the end, they got sick of my constant harassment and agreed to remove th markers as a "gesture of goodwill".
It's worth doing, AP markers are the devil's work

Dnrn84

Thanks for the replies.
I guess I'll wait for them to write to me. Apparently I'm due a letter in a few days to at least acknowledge my complaint with details of contact for the complaints department.
When I recieve this I might call and explain my situation.
6 years has gone since I could have had a default and I am now in a completely different situation. I will have the deposit for our first home in around 6 months. This is the only mark on my credit file and could stop me getting on the ladder.

[Deleted User]

An AP marker won’t stop you getting a mortgage.

Just use a broker who deals with adverse credit files

Dnrn84

I've just realised my account was over its limit for at least four months so should that have resulted in a default?

[Deleted User]

No. Not necessarily.