Markers on my credit file whilst in a payment holiday!!!

M47

So in your opinion, the fact that I wasn’t receiving late payment markers on my credit file immediately before the payment holiday begin (despite being in arrears), along with the fact that I was lead to believe that a payment holiday meant that I’d receive a break from making mortgage payments without damage being done to my credit file. You are seriously saying that you feel that my mortgage company have made the right decision in screwing up my payment history?


 I honestly feel like I am in the twilight zone with some of your answers.

-a payment holiday should be honoured. 
-mortgage company have a responsibility to make dangers clear.
-Missing payments because you believe you’ve got an arrangement/understanding is different from breaking an agreement and going AWOL with not making payments.

 I do appreciate everyone who’s contributed to this thread, but logistically and respectfully, I do not comprehend some of your thoughts.

jazzyja

So the mortgage holiday was for the mortgage itself.....not the previous separate arrears for which you had an agreement for? That's how I'm reading this. In which case they're right to report it....as its a separate agreement?? It's not a holiday from your arrears

RelievedSheff

M47 said:

So in your opinion, the fact that I wasn’t receiving late payment markers on my credit file immediately before the payment holiday begin (despite being in arrears), along with the fact that I was lead to believe that a payment holiday meant that I’d receive a break from making mortgage payments without damage being done to my credit file. You are seriously saying that you feel that my mortgage company have made the right decision in screwing up my payment history?


 I honestly feel like I am in the twilight zone with some of your answers.

-a payment holiday should be honoured. 
-mortgage company have a responsibility to make dangers clear.
-Missing payments because you believe you’ve got an arrangement/understanding is different from breaking an agreement and going AWOL with not making payments.

 I do appreciate everyone who’s contributed to this thread, but logistically and respectfully, I do not comprehend some of your thoughts.

Your credit file was already "damaged" by you being in mortgage arrears.

I don't think you are fully understanding what a mortgage payment holiday is!!

amnblog

It is hard for those of us with experience to comment without seeing your file, but if you were in arrears on your mortgage and made an arrangement to sort that situation that will be reflected in your credit file.

Unless your file during the period was showing ticking up in numbers on your mortgage account 1,2,3 or 1,2,2 or similar, the likelihood is that the previous arrears alone are impacting the file.

Cscott139

M47 said:

So in your opinion, the fact that I wasn’t receiving late payment markers on my credit file immediately before the payment holiday begin (despite being in arrears), along with the fact that I was lead to believe that a payment holiday meant that I’d receive a break from making mortgage payments without damage being done to my credit file. You are seriously saying that you feel that my mortgage company have made the right decision in screwing up my payment history?


 I honestly feel like I am in the twilight zone with some of your answers.

-a payment holiday should be honoured. 
-mortgage company have a responsibility to make dangers clear.
-Missing payments because you believe you’ve got an arrangement/understanding is different from breaking an agreement and going AWOL with not making payments.

 I do appreciate everyone who’s contributed to this thread, but logistically and respectfully, I do not comprehend some of your thoughts.

Have your arrears increased during your payment holiday? If they have gone up then I think you would have grounds to complain, however, if they are just continuing to report the arrears that were already there then I wouldn't imagine you really have a compliant.

MWT

M47 said:

 I honestly feel like I am in the twilight zone with some of your answers.

...

 I do appreciate everyone who’s contributed to this thread, but logistically and respectfully, I do not comprehend some of your thoughts.

Best way to get more certainty in the answers would be to share exactly what the markers were showing on your account...

As has been mentioned a couple of times, was the level of 'missed payments' remaining the same throughout? i.e. 1,1,1,1 etc or was it incrementing? i.e. 1,2,3,4...

That one piece of information would let people either understand your concern, or be able to explain with more confidence what happened...

ACG

M47 said:

So in your opinion, the fact that I wasn’t receiving late payment markers on my credit file immediately before the payment holiday begin (despite being in arrears), along with the fact that I was lead to believe that a payment holiday meant that I’d receive a break from making mortgage payments without damage being done to my credit file. You are seriously saying that you feel that my mortgage company have made the right decision in screwing up my payment history?


 I honestly feel like I am in the twilight zone with some of your answers.

-a payment holiday should be honoured. 
-mortgage company have a responsibility to make dangers clear.
-Missing payments because you believe you’ve got an arrangement/understanding is different from breaking an agreement and going AWOL with not making payments.

 I do appreciate everyone who’s contributed to this thread, but logistically and respectfully, I do not comprehend some of your thoughts.

I am working on the assumption that:
The late payment markers are for your late payments pre covid payment holiday.
You were still in arrears when taking the payment holiday.
You did not go further into arrears when in the payment holiday.

If all of that is correct then I think your credit report is exactly as it should be. 

If they specifically told you your current arrears would no longer show, then the bank has made a mistake in telling you that. As for whether or not they should clear the arrears for those 3 months is a complicated answer and I am not sure what I would do in that situation. If the "only" thing they are guilty of is not telling you the arrears would still show, then I think at best you may get a £50-100 goodwill gesture. 

If you were still in arrears at the end of the covid holiday, then I think:
1) That is not going to help your argument, as you never cleared the arrears in the 3 months where you had no contractual payments to make.
2) It could be a double edged sword if you get what you want, as it will look on your credit report like you cleared your arrears and then fell into arrears again - that would look worse in my opinion than it would if you were constantly 2 months in arrears. 

getmore4less

in your post.

I had a small amount of arrears just before the first lockdown and put an arrangement in place a month or 2 before the pandemic began. I was told by my mortgage company that once this arrangement was put on place, that I would not receive any late payments on my credit file so long as I stuck to it and kept to the arrangement and for the months I stuck to it I didn’t receive any late payments.

if during the payment holiday(for the normal payments) you also stopped your arrears arrangement that would be missed payments. unless they said that a payment holiday would also suspend the arrangement to pay?

Thrugelmir

M47 said:

You are seriously saying that you feel that my mortgage company have made the right decision in screwing up my payment history?


 

The data held by the CRA's would be worthless and of no use to financial organisations if it didn't reflect actual events. Finance companies pay considerable sums to access this data. 

Jen271626

Your payment holiday would of been for your mortgage payments due during that time. You still had an agreement to pay the arrears - did you continue to do that? If not then they are reporting correctly.