Remove arrangement to pay marker from credit file?

projectreset

Years ago my debt situation was very bad. Multiple CCJs, defaults, late payments, payday loans, etc.

Bar one default and a series of late payments which will come off in October, I only have one negative marker left - an arrangement to pay with my bank from May-August 2023.

Basically what happened was, as I was paying down my debts, I was stuck in my overdraft, but paying that down also. In my wisdom, I decided to call the bank, who I have been with for over a decade and paid significant sums in overdraft fees to, and ask if they could give me an interest break.

They were happy to oblige. I explicitly asked them if this would affect my credit rating, and they said no.

I've since learned that this isn't true. It's not the worst marker to have on a credit report, but it's not ideal, and it lasted for 4 months. I would like to apply for an Amex card for Avios points, and am concerned I'll get rejected as this arrangement to pay was just 2 years ago. I'd rather not wait 4 years for it to drop off my report and stop affecting my credit worthiness to lenders.

Can I get this removed, on the basis that the advice given on the phone was incorrect? I'm aware a lender doesn't actually have to tell you that an arrangement to pay may affect your ability to get credit; but they explicitly told me it wouldn't, which is false.

I'm not sure if my bank records the phone conversations so I'm a bit concerned I won't have any proof. Even if they do record them, it was 2 years ago, so they may have been deleted under some data retention policy.

I suppose I've got nothing to lose by asking them? But do you think I have a chance?

CliveOfIndia

I guess there's no harm in asking, but I wouldn't hold your breath - the marker is, after all, nothing more than an accurate record of the facts.

It's not unheard of for front-line support staff to give inaccurate information on such matters - not through any malicious intent, rather a simple lack of understanding of the finer details.  I'm wondering whether they meant it wouldn't affect their own view of you, perhaps?

projectreset

CliveOfIndia said:

I guess there's no harm in asking, but I wouldn't hold your breath - the marker is, after all, nothing more than an accurate record of the facts.

It's not unheard of for front-line support staff to give inaccurate information on such matters - not through any malicious intent, rather a simple lack of understanding of the finer details.  I'm wondering whether they meant it wouldn't affect their own view of you, perhaps?

Yeah I was thinking more along the lines of affordability complaints I've had upheld. In those instances, I've had entire credit agreements with payday lenders removed from my report, even though payments were all made on time, on the basis they shouldn't have offered them to me.

This isn't an affordability complaint, but it is an agreement I wouldn't have taken out had I been given accurate information about the impact on my credit report.

I guess I'll ask them and see what happens. Sounds like something which would end up with the ombudsman if I pursued it, but not really sure I want to risk my bank deciding they don't want my business, as it's the main long term account I have to show, and I'm barred from a couple of banks because I have debts with them which are statute-barred and thus unpaid. They don't want my business, which I found out when I applied for a mortgage with them and they told me very clearly why!