Lender has put a marker on my credit file as missed payment? Even though I paid.

Compliance

My mother fell ill later on in December and was admitted into life support on which we were told she would not survive so to be on call for whenever she would pass.

So my boss could only give me certain shifts because he wanted someone who could be relied upon. This meant I had reduced income so I phoned the companies I had loans with and told them I would like to do the financially responsible thing and go on a reduced payment plan to which then go on a plan where I would over pay to equal out the money the company missed out on.

I did this so my credit score would not be tarnished I have a perfect payment history until today.

So one of the companies filed that I had missed payments even though I have paid the agreed amount, I have also logged into their website to see that they have put me down as behind on payment?

I'm pretty devastated this has happened it feels like im being punished for doing the "right" and sensible thing.

I phoned them up and they said it was not a mistake and that they will check through the recordings to see if a member of staff had said my credit score would not be at risk and that I should file it as a complaint and I did.

Another issue I have is that I have a severe speech impediment so understanding what I'm saying on the phone is quite hard. I wonder if they have mistaken what I have said.

How do I go about getting copies of all phonecalls I have made to the company? I intend to take this further as I plan to open up a shop in the near future with others and I don't need this on my creditscore when arranging funding.

What are the chances i get this removed and what legimate avenues can I take.

[Deleted User]

If you're not paying the full contractual amount, it will either be marked as missed or an arrangement.

If an agent said that your credit score wasn't at risk, they made a mistake. They have no control over the pretend scores given by the CRAs, only the data that they provide to them.

You can submit a SAR and if any of the calls were recorded and kept (which is unlikely), you may receive them, or a transcript, as part of that.

The markers are unlikely to be removed - but you'll have a much better chance if you were to make up all the arrears immediately and were able to argue you wouldn't have reduced your payments if had known the consequences. But continuing to pay less than contractual will result in further markers, even if the previous ones were removed.

Compliance

Deleted_User said:

If you're not paying the full contractual amount, it will either be marked as missed or an arrangement.

If an agent said that your credit score wasn't at risk, they made a mistake. They have no control over the pretend scores given by the CRAs, only the data that they provide to them.

You can submit a SAR and if any of the calls were recorded and kept (which is unlikely), you may receive them, or a transcript, as part of that.

The markers are unlikely to be removed - but you'll have a much better chance if you were to make up all the arrears immediately and were able to argue you wouldn't have reduced your payments if had known the consequences. But continuing to pay less than contractual will result in further markers, even if the previous ones were removed.

Im back to paying slightly more it was only for 2 months would I not be able to get the marker removed as i was mislead?

sourcrates

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

Compliance

sourcrates said:

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

What would you recommend i do after paying the arrears. Do i have any recourse i can take to get the mark scrubbed off or do i have to lay down and accept this?

Shakin_Steve

Compliance said:

sourcrates said:

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

What would you recommend i do after paying the arrears. Do i have any recourse i can take to get the mark scrubbed off or do i have to lay down and accept this?

You have to accept that, if you do not uphold your end of the contract, your credit file will be affected. This is the reason that credit files exist, so that potential lenders can view your payment  history. If I were in your position I would concentrate on trying to get your financial affairs back in order, so that there is minimal damage. 

Don't take it personally. It is, after all, a true reflection of the way your account(s) have been managed.

sourcrates

Compliance said:

sourcrates said:

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

What would you recommend i do after paying the arrears. Do i have any recourse i can take to get the mark scrubbed off or do i have to lay down and accept this?

Well its a factual representation of how your account was managed, it can`t be changed because you don`t like it, or think its unfair in some way.

You have the option, as everyone does, of making a complaint, how successful this would be is anyone's guess, you might be lucky, they may offer you a gesture of goodwill, and remove it, they may not, if you think you were unfairly treated, then that option is always there to be used.

Compliance

sourcrates said:

Compliance said:

sourcrates said:

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

What would you recommend i do after paying the arrears. Do i have any recourse i can take to get the mark scrubbed off or do i have to lay down and accept this?

Well its a factual representation of how your account was managed, it can`t be changed because you don`t like it, or think its unfair in some way.

You have the option, as everyone does, of making a complaint, how successful this would be is anyone's guess, you might be lucky, they may offer you a gesture of goodwill, and remove it, they may not, if you think you were unfairly treated, then that option is always there to be used.

I understand what you have said and I would say it is not a factual representation of how I handled the credit file.

 Based on the information I was given that no effect would happen I then made the decision. If I had been told there was a chance my credit file would be irreparably affected I would not have agreed to the new terms.

[Deleted User]

Compliance said:

sourcrates said:

Compliance said:

sourcrates said:

Call handlers very rarely give out correct details to questions like this, basically when your under contract, your contracted to make a payment of a certain amount, on a certain date, if for any reason you don`t do this, then an automated process kicks in, and its recorded as a late payment, it doesn't matter what arrangement you think you may have had, technically you have broken the terms of your contract.

That is how the system works Unfortunatly, no matter what the reason was, those terms were broken, and your credit file was marked as such.

What would you recommend i do after paying the arrears. Do i have any recourse i can take to get the mark scrubbed off or do i have to lay down and accept this?

Well its a factual representation of how your account was managed, it can`t be changed because you don`t like it, or think its unfair in some way.

You have the option, as everyone does, of making a complaint, how successful this would be is anyone's guess, you might be lucky, they may offer you a gesture of goodwill, and remove it, they may not, if you think you were unfairly treated, then that option is always there to be used.

 Based on the information I was given that no effect would happen I then made the decision. If I had been told there was a chance my credit file would be irreparably affected I would not have agreed to the new terms.

It's not irreparably affected. It has a moderate impact now which will lessen as time goes by and disappears entirely after six years.

Given you were in a period of making very small payments towards your debts, the incremental impact is relatively minor.