Arrangement to Pay - Removal Advice

BoGoF

If you think a £4,200 overdraft won't have had a negative affect on your credit file then you are wrong. Were you making any payments towards it prior to the facility being called in? How long gad you been OD?
 

BoGoF

fisherja84 said:

This seems to have massive implications - I dit not “fail to meet my credit obligations”, I volunteered this arrangement and now I am being treated by creditors as if I have been missing payments.

Actually you did - your obligations were to repay immediately, which you didn't.

KittenChops

kimwp said:

The point is that asking to pay over a period of time rather than immediately as requested is a situation where an arrangement to pay marker applies.

I'm not familiar with how to get markers removed, but I think your only hope is a complaint to the bank that you were led to believe that there would be no negative effect. 

I think the second part of the above post is important here - Barclays should have been clear with the OP about the effect on his credit file

kimwp

KittenChops said:

kimwp said:

The point is that asking to pay over a period of time rather than immediately as requested is a situation where an arrangement to pay marker applies.

I'm not familiar with how to get markers removed, but I think your only hope is a complaint to the bank that you were led to believe that there would be no negative effect. 

I think the second part of the above post is important here - Barclays should have been clear with the OP about the effect on his credit file

Well....it was probably in the terms and conditions and it's not really the bank's job to explain the impact of every financial decision. If the OP asked if there would be any negative consequences of paying over six months rather than straight away and they said no, then the OP might have a case. Worth a try I think.

Nasqueron

Having over 4k of debt in an overdraft would do as much harm as anything to the credit rating, an OD tells lenders you are living beyond your means