Agreement to pay - inaccurate information?

[Deleted User]

It is if your changing contractual payment terms.

Stop looking at “stuff on the internet” and contact the company in question and ask as a gesture of goodwill if they’ll remove the markers.

If not, feel free to raise to the FOS but if they side with the company in question then you’ll just have to grit your teeth and learn from it.

Willing2Learn

If it were me, I would probably escalate the complaint to the ICO, as this is a data related matter. Savvy Loans should have advised you that the arrangement would be recorded on your credit file.

Are you able to bring the account back up-to-date by reverting to the repayment schedule originally stipulated in your credit agreement?

BeccaJoanne

Willing2Learn wrote: »

If it were me, I would probably escalate the complaint to the ICO, as this is a data related matter. Savvy Loans should have advised you that the arrangement would be recorded on your credit file.

Are you able to bring the account back up-to-date by reverting to the repayment schedule originally stipulated in your credit agreement?

Hi, yes definitely, I told them at the time that the payment due on the 13th of September could be taken on the 30th but only for this month. They had received their last payment 21st of August so at the time my account was fully up to date. They've received this months payment today (the 30th) and will receive their next payment just 11 days later on the 11th of October, it's entirely up to date and they've had a payment every month; and will have all future payments on the original date. This was an off chance one month where the date was moved within the same month (September).

I will look into the ICO, thank you for your advice

MEM62

BeccaJoanne wrote: »

You say don't do it again, but no-one can guarantee they aren't going to get ill, or work isn't going to pay them late. I did not intentionally fall ill for two weeks, and I did the correct thing in contacting the lender.

That is why you have an emergency / contingency fund. Something that is particularly important if you are self-employed. It sounds like you are sailing your finances too close to the wind.

BeccaJoanne

You don’t know my personal circumstances so I don’t need a lecture; I came here for advice on what AP means etc. I’m a full time carer for a parent with cancer, it hit us hard financially after very serious complications and long hospital stays/delayed chemotherapy and we’re still recovering.

I’m not thick, I would have a back up if I could, I’m balancing a lot of serious things and studying a full time masters in Law and working self employed full time. I’ve got a lot to balance and finish and work on for the next 4/5 months and then things will get a bit easier and that might be an option, but you don’t know the ins and outs. Sorry to be abrupt but I find it a little condescending that people don’t want to give advice over what I asked for; rather than discuss the companies refusal for transcripts or anything I mentioned in the post etc and give advice, all anyone is doing is jumping on to lecture me about things I already know - It’s not as if I don’t realise my personal circumstances. I live them, so I would appreciate if the advice i regarding wether the information is inaccurate/whether the company should have told me at the time/where I stand legally, please refrain from lecturing on personal issues. Thanks .

Willing2Learn

I don't think anyone intended to be giving you lectures or to talk about your problem in a condescending manner. No-one is calling you thick!!

It is just that we see a lot of problems with budgeting across these boards. This means we always try to stress the importance of saving money in to an Emergency Fund (EF). We have found that having an EF is a vital component of all monthly budgets.

BeccaJoanne

You are the only person of which it didn’t come off this way. You’re advice was regarding my question and I appreciate it.

However, if someone’s advice is to “save up” but they don’t know my personal circumstances; and they are not advising me regarding anything in the OP, then I’d just appreciate them keeping such un-asked for advice to themselves. It does come across patronising and condescending unfortunately. I would obviously save up or have a buffer if I could, I wouldn’t have asked to move a payment date unless completely necessary. But my question was regarding the company, and I don’t need to explain my personal circumstances. I didn’t have a buffer (see previous post regarding full time caring since last year) , I did need to change the DD date, and I just wanted advice regarding how the company handled it.

sambaird

I hate to break it to you... but this is a public forum and people aren’t here to sugar coat responses to the issue that you have raised.

Whilst a lot of people (Myself included) have sympathy to the issues that you are facing - But generally speaking it doesn’t have a bearing on the answers to the questions that you raise.

You mention that you are a a law student... one of the first things that you should be taught about the law is that the law is a dispassionate being... especially contract law.

So... looking at your situation dispassionately:

You entered into a contract that required you to make a payment by a certain date.
You couldn’t make the payment by that originally agreed date - and by the sounds of it, only notified them a day or two before.
They allowed you to pay later (missing the contractually agreed date), and consequently entering an arrangement to pay.

So - technically what they have reported To the CRAs is an accurate bearing of the facts.

You may have a case for removal if you made a complaint, advising that had you been explained the meaning of the arrangement, you may have paid on time. However, it could be a tough sell given that the information is in their faqs... and most definately in their t&c’s (as a law student... you did read them before making the agreement right?).
Remember... errors made by staff in explaining (or not explaining policy) aren’t grounds for altering the facts on your CRA report - it may get you £25-50 as a gesture of goodwill.

So... best advice is to write a very grovelling letter of complaint and hoping you come across a friendly soul on the other end.

Let us know how it goes.

Willing2Learn

From the ICO guidance:

Should a temporary reduction in the payment amount be jointly agreed between you and your lender, this ‘arrangement’ will be recorded at the CRAs.

This may also occur if there is a temporary change in terms (that is not part of the product) such as a payment holiday or change to interest only.

Depending on the period and amount of the arrangement, arrears may continue to be reported. Such temporary arrangements may last for some time but are generally expected to revert to the contracted terms at some future point. For such accounts arrears may continue to be calculated in accordance with the contracted terms.

The record must show that the account is the subject of special terms. The reporting of this fact may be different depending on the product and the CRA.

It is important that you are made aware when such arrangements are made and maintained, that it will show on your credit file and that whilst arrears may accrue and increase, a default will not be recorded.

@BeccaJoanne - The last paragraph (above) is important as I interpret it to mean, that a creditor will make the customer aware that the temporary arrangement will be recorded on their credit file...this is why I believe you should be escalating your complaint to the ICO...

Willing2Learn

sambaird wrote: »

You may have a case for removal if you made a complaint, advising that had you been explained the meaning of the arrangement, you may have paid on time...

sambaird wrote: »

.... errors made by staff in explaining (or not explaining policy) aren’t grounds for altering the facts on your CRA report...

I don't believe the above is correct. The ICO guidance says that the creditor should have advised the customer that the temporary arrangement would be recorded on their credit files.