Can banks remove late payment markers from customer credit files?

mikechaos

MinuteNoodles said:

mikechaos said:

We accept that it's our responsibility to pay on time. I have never suggested that it's anyone else's fault but ours. I was just wondering if they would remove it as a gesture of goodwill considering that we have had to deal with some dreadful circumstances over the last couple of months.

Lots of people do from time to time, they still pay their regular bills. I had emergency spinal surgery last summer which put me out of work for three months dropping my wages by over 80%, still paid my bills. The dreadful circumstances didn't cause the late payments, a lack of a 3-6 month emergency fund did.
As has been said above, a few late payments in isolation won't do you much harm. By all means you can ask but don't expect anything to be done because they're under no obligation to even if you catch up. Move on and get that emergency fund built up so it doesn't occur again.

Thank you for your post but our situations were quite different. We were just overwhelmed by what we were dealing with. It wasn't due to lack of funds although that may be an issue moving forwards as our income has been affected by the current situation. I am sure that a lot of people do pay their regular bills during difficult times but I reckon that a lot of people also slip up, as we did. 

Fighter1986

And your credit file will accurately reflect exactly that. 

MallyGirl

you might get a goodwill gesture of removal of late payment fees etc but the facts won't be changed under goodwill.

mikechaos

I had a call back this morning after sending a secure message asking if someone could contact me. They offered to refund the £12 fee but initially said that they couldn't amend my credit file. After a conversation where I reiterated the details of why I had slipped up the member of staff has said that she is going to speak to a manager and call me back within 48 hours as they "may be able to retract the late payment marker" as a gesture of goodwill. 

Fighter1986

I wouldn't hold your breath. It's quite literally illegal for a lender to report inaccurate data about you to credit reference agencies. 

There's really no need to be so concerned though, a couple of missed payments amidst an otherwise expansive sea of on time payments isn't going to have a deleterious effect on your credit wortiness once everything is back up to date. 

What data actually appeared on your credit file? One or two missed payments? What did the payment status indicators change to on your account(s)? 0,0,0,0,1,2,0,0?

mikechaos

Just the one missed payment  so I guess 10000000000000000000. Apparently they may offer a gesture of good will for a slightly late payment, however they can't do this for anything more serious such as a default

Fighter1986

I really wouldn't panic either way. That one late payment isn't going to have any long lasting effect on your creditworthiness whatsoever.

mikechaos

Fighter1986 said:

I really wouldn't panic either way. That one late payment isn't going to have any long lasting effect on your creditworthiness whatsoever.

Hi, I know. I just thought it was worth a try! It seems to have made my score drop a bit, not that I pay to much attention to the score. 

Fighter1986

Yeah it's a little blip. Few months it will be like it never happened  

phillw

Yes it was. Totally our fault. It's bee a gruelling couple of months and we slipped up. I just wondered if they would offer a gesture of good will as this one payment didn't represent our previous payment history with them. 

It likely depends on the circumstances.
Rather than goodwill, they will look at whether you have any cause for complaint. In my experience you are better off looking for things they did wrong that you can reasonably argue led to the situation, instead of just accepting responsibility.