Credit file special arrangement 3 May 2022 at 7:32AM in Credit file & ratings 10 replies 211 views

Carl536373

Hi, I have a special file which has special arrangement next to my debt with Very.

I do pay it via stepchange.

All my other debts defaulted in January 2020 so I'm concerned this may change too.

Does anyone have any advice with this one?

[Deleted User]

You'll be better off having it default than an ongoing arrangement.

Carl536373

If it defaults now it'll be dated alot later than the others, which is my issue. I don't want it to default. Trying to buy a house so if this defaults now it'd kill that dream really.

[Deleted User]

It wouldn't kill it any more than the arrangement, which is just a polite way of saying default.

But you want to get the default backdated to whenever is the appropriate date 

Carl536373

Hi All

I spoke to shopdirect / very who told me to speak to NCO Europe who is managing the debt and they told me to speak to shopdirect again.

So after speaking to them again they said it is a special arrangement so that's why it shows as that.

Not really helpful.

Any suggestions how to change this special arrangement to a default? Or even remove this marker.

Thrugelmir

Any divergence from agreed contractual payment terms is a "default". However you dress it up. That's what underwriters will consider when processing any application for credit. 

Carl536373

Fair enough, there's no date next to special arrangement though, I guess I'd just hope it'd be a default so it can at least be removed after 6 years like the others

sourcrates

Only way to get difficult creditors to default you is to stop paying them, or by going down the official complaints route.

Shop direct are now known as "The Very Group", and are notoriously awkward in there dealings with debtors.

You have entered an arrangement with them, so technically your account is being marked correctly, however guidance states a default can be registered after between 3-6 missed contractual payments, so they could mark your file as in default instead, if they wanted too.

You can make an official written complaint, quoting guidance, and asking for it to be backdated, AP markers stay on file for 6 years after you make your final account payment, so will be affecting your file for a lot longer than it should do.

Carl536373

Thanks for your help, I'll write to them and ask. My other defaults are coming up to 3 years old come January so the last thing I want is for this to disrupt things.

F1shyFingers

sourcrates said:

Only way to get difficult creditors to default you is to stop paying them, or by going down the official complaints route.

Shop direct are now known as "The Very Group", and are notoriously awkward in there dealings with debtors.

You have entered an arrangement with them, so technically your account is being marked correctly, however guidance states a default can be registered after between 3-6 missed contractual payments, so they could mark your file as in default instead, if they wanted too.

You can make an official written complaint, quoting guidance, and asking for it to be backdated, AP markers stay on file for 6 years after you make your final account payment, so will be affecting your file for a lot longer than it should do.

Yeah..no.

You seem to have conveniently glossed over page 7, which states

A default should not be filed: • If you make a payment, in time, that fully meets the terms set out in the default notice • If jointly with the lender an agreement is reached for an arrangement and you keep to the terms of that arrangement • If the amount outstanding is solely made up of fees or charges • If a lender is given evidence that a customer is deceased (for example a verifiable death certificate, probate or letter of administration)

The OP has clearly reached an agreement with the leader and kept to it.  The lender would be in breach of the guidance if they registered a default.

Of course, it is just guidance and they're free to ignore it but that works both ways. You can't have your cake and eat it too.

Congrats on not being a board guide anymore though. It took a while but we got there in the end.

sourcrates

Carl536373 said:

Thanks for your help, I'll write to them and ask. My other defaults are coming up to 3 years old come January so the last thing I want is for this to disrupt things.

If they won`t do it, then its not the end of the world, your file will recover with time.

Good luck.