Bank filing incorrect loan payment history to credit reference agency - following payment holiday

simon_webber

My wife an I have a loan with NatWest and took a three month reduced payment period during lockdown as our income became less certain (both self employed).  In August it reverted back to the full loan payment amount.  NatWest gave the option to extend the term of the loan accordingly by a couple of months rather than run ongoing arrears.  However somewhere in their system they have got out of kilter with dates and despite the fact that the payments are taken by them by direct debit and were made on time they filed a notice of late payment with Experian for the August payment.  This had a significant effect on credit rating score.  We contacted the bank who confirmed it was an error at their end (and indicated it had occurred in a number of other cases) but it took them three weeks to rectify and file an update with the credit agency which then returned the credit rating score.  However three days later they have filed a second incorrect late payment flag for the September payment and we will now have to go through the whole process again of getting it corrected.  If anyone else has taken loan payment holidays or reduced payment periods with NatWest we would strongly advise you to check your credit rating score to ensure it has not been affected by erroneous submissions to credit agencies from NatWest or indeed other banks. 

jonesMUFCforever

Your ''score'' means diddly squat - it is only seen by you and not the lender.

simon_webber

OK re score but an incorrect late payment marker on the credit history will be seen by any future lenders and will effect availability of credit and cost of credit for anything going forward if it is not corrected.