Mana arrangement to pay

sourcrates

Thing is lenders do not tell you this, and most customers are not aware it will affect their credit files.

You cannot really ban them, as they are a true reflection of how your account is being run, I think debtors need to be more aware of the amount of debt they are carrying, so that lifes little blips don`t turn into a major setback.

kaMelo

sourcrates said:

Thing is lenders do not tell you this, and most customers are not aware it will affect their credit files.

I don't necessarily disagree but what can they factually tell someone to make a default sound better than an AP?

Default - short sharp pain, credit file marked for six years maximum, but it may come with collection letters, potential legal action and CCJ, in a worst case scenario, statutory demand and bankruptcy.

Agreement to Pay - none of the above but credit file will be marked for longer than six years.

Laid out like that which one sounds more appealing?

Malkytheheed

kaMelo said:

Malkytheheed said:

AP is an obscene thing anyway. My friend was put on AP without his knowledge while paying MORE than the minimum on a card and having never missed a payment ever. He simply called his card company to say "I MAY be a bit tight for funds in the coming months, what should I do"? They suggested to stop paying in full every month and pay a set amount, he agreed, then they asked how much, he gave them a figure of 300 pounds (minimum payment was like 50 pounds). never missed a payment, but they had put him on AP marker. To this day his file is tarnished with them. horrendous and esspecially as they remain till 6 years after account closure. So they can actually last longer than someone who went bankrupt 6 years ago. just bonkers. they should be banned. 

How can you claim he had an AP without his knowledge?  He instigated the conversation with his lender saying things were a bit tight. As a result of this conversation he agreed a payment plan. It's the very definition of an agreement to pay.
More to the point, if the minimum payment was £50 (ish) and he could afford £300(ish) why did he bother contacting them at all. 

On the principle of AP's I agree with you, they can be far more damaging to a credit file than a default but ban them?
How is that even possible? How can you ban a lender and debtor agreeing to vary to a credit agreement?

So you are another one who thinks its right he was put on an AP (without being told) even though he was paying way more than the minimum payment?? I dispair with this forum sometimes I really do. 

He contacted them because he was concerned things MIGHT get a bit tight. Probably pre-emptive but he was nervous, and what is the first thing we are always told when getting into finnancial difficulty?? CONTACT YOUR LENDER AND TALK TO THEM. Turns out the money he was looking for did come in, and he could easily pay 300 a month or more (few months later once the scare was over he went back to paying in full. Now his file is Marked AP for 6 years from the date he closed the accoun. Which is a lot longer than the date that all happeneds. It's utterly ridiculous. 

Also... " he agreed a payment plan. It's the very definition of an agreement to pay." 

Surely by that logic we are ALL in arrangment to pay? I mean... I've arranged to pay my credit cards. It a direct debit in full. but its an arrangement to pay isn't it? it's the "very definition" of arrangement to pay. 

kevey1968

I was more worried that on credit report has a account closed 7 years ago it and other company credit reports show it gone. I do not agree with how I was put on a r markers ,mana took bank of Scotland accounts over raised interest from 14.9 to 33.3 I complained and mana offered the repayment plan,little did I know 12 years latter it would count as a negative effect, not once has that effect  my nationwide or Barclays account S,