Account Showing As No Payment

SSD92

I have 2 loans with Morses (1 finishes Friday) that I was making payments towards on time on a weekly basis however my circumstances changed temporarily so I lowered the payment to £100 a month to be split between the 2 loans.

The lady who takes payment started to allocate the full payment towards the loan with the lower balance to clear quicker which I'm fine with, but when I've checked ClearScore today, the account is showing as no payments for this year at all. I have all receipts from Morses so I know the payments have been allocated but I'm a bit baffled, especially when the lower payments started in May. Is this something Morses could amend or would I need to take it up with Clearscore as surely any payment should be shown even if a part payment?

Willing2Learn

It is good you have all the receipts.

I would chase it up with Morses, as they should be updating the CRA with accurate and up-to-date data.

Ben8282

Leaving aside the question of no payments, what is the account status?

SSD92

Ben8282 wrote: »

Leaving aside the question of no payments, what is the account status?

Both are showing as in arrears.

Ben8282

SSD92 wrote: »

Both are showing as in arrears.

If you have reduced the payment then unfortunately tat least one of them is in arrears.
However, something would appear to be wrong if the full payment is being applied to one of the loans as in that case only the other loan should be in arrears and the loan to which the payment is being applied should be up to date.

SSD92

Willing2Learn wrote: »

It is good you have all the receipts.

I would chase it up with Morses, as they should be updating the CRA with accurate and up-to-date data.

Definitely, I'd be panicking otherwise. Thank you, I'll get in touch with Morses and see what they say as realistically the £100 on the smaller loan isn't much less than what I would've been paying before the change in circumstance.

Ben8282

SSD92 wrote: »

Definitely, I'd be panicking otherwise. Thank you, I'll get in touch with Morses and see what they say as realistically the £100 on the smaller loan isn't much less than what I would've been paying before the change in circumstance.

This sounds contradictory. Is the smaller loan repayment being made in full or is it a little bit less than it should be?
If the latter, then it is in arrears.

Willing2Learn

Ben8282 wrote: »

This sounds contradictory. Is the smaller loan repayment being made in full or is it a little bit less than it should be?
If the latter, then it is in arrears.

But if it is in arrears, then it should be marked as AP (temporary payment arrangement) on the credit file. If the customer SSD92 was entering an AP, then the creditor should have advised the customer that this would be recorded with the CRA.

Edit: I am referring to the following paragraph within the ICO Principals for the Reporting of Arrears, Arrangements and Defaults at Credit Reference Agencies.

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.

SSD92

Ben8282 wrote: »

This sounds contradictory. Is the smaller loan repayment being made in full or is it a little bit less than it should be?
If the latter, then it is in arrears.

The weekly payment on each loan is £30, so depending on how many weeks in the month, payment should be between £120-£150 per loan. With the full £100 being allocated to the oldest loan, it would still show in arrears technically as it's not the full payment. However, some sort of payment should be showing on that particular loan as I've paid quite a bit while on the arrangement of £100 but Clearscore is showing missed payments completely.

Willing2Learn

I don't think they are correctly recording the account management to the CRA. I believe that arrears should only be recorded in an instance when the customer has not made a payment arrangement. When a payment arrangement has been agreed, I believe that should be recorded on the credit file, but only if the customer has first been advised that this will happen.

On that basis, I would complain to Morses.

I could be wrong though, as I am no expert.

Ben8282

But has the OP actually entered into an AP or just started paying less?
Surely it is better for an AP arrangement not to appear.
The only thing I can agree is that if payments were made they should be shown.
But what about the balances? Are they decreasing despite the payments not being shown?