Arrangement to pay on credit file
Comments
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Oh well never mind. Looks like I'm stuck with them for years then. Really to sort a remortgage out next year so hoping a year of normal payment terms will help although not sure if the balance is enough on one of them for the account to still be running by then. Don't want them to close completely as the it will take 6 more years for the markers to drop off!!
Really wish I'd known this was affecting my credit rating so much 0 -
It sounds like people are finally having success with these AP markers!
Greybear - as my accounts were over 6 years old, settled and should have dropped off my file anyway I think that's why I had good success. I'm not sure on the best course of action for you to be honest, if you are still paying back on the account they might not be willing to adjust it?
Similar to mine, I was able to use the argument that had they defaulted 6 months into the AR, the account would be gone by then.
Greybear - can you wait until the account is 6 years 6 months into the arrangement, settled, and then try?0 -
Should not make any difference whether it is 6 years old or not. If it's wrong and unfair for it to be there, then it is, end of.Still rolling rolling rolling......
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rizla_king wrote: »Should not make any difference whether it is 6 years old or not. If it's wrong and unfair for it to be there, then it is, end of.
The argument I used with the creditor was that the default would've been on file for 6 years, fair enough, but then dissappeared.
Whereas the AR will be on file for 6 years after the last payment.
So what I was getting at was 6 and half years after the AR started, it should've defaulted after the 6 months and thus be gone. By arranging to pay you are left in a worse position. That was my argument with the creditor.0 -
Yes, and that argument is equally valid whether or not you have reached that 6 point where it would have dropped off. Plus as said, if it should have been switched to a default after say 6 months, then equally that applies at the time that should have happened.Still rolling rolling rolling...... <
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So maybe I should look into it?? As it stands these two arrangements to pay won't fall off my credit file until 6 years after they are cleared whereas if they had defaulted on the date the arrangements started then I'd have less than 3 years until they disappeared. I owe less than £300 between them but was only going to make minimum payment on them now they are on normal payment terms as hoping a year of normal payments as my most recent payment history will look better than a year of arrangement to pay?? The balance will come down very slowly if I only make minimum payments due to interest but I just want to do whatever will be better for my credit score0
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Just wanted to say thanks to everyone who has contributed to this thread thus far, I'm finding myself in a similar situation after entering into a DMP in 2009. I've only just plucked up the courage to view my credit file and am shocked to see how some creditors have been marking me as AP every month since 2009 (DMP due to finish 2016). I'm currently finding out as much info as I can to arm myself before contacting creditors but wondered whether anyone knew, am I best to wait until I've been on the DMP 6 years before asking them to change AP markers to default (backdated to 6 months after start of AP markers) or can I approach them now 5 years into the DMP which would mean had they defaulted me correctly after 6 months reduced payments, defaults would drop 2016 or should I wait until they would start dropping off?DMP Mutual Support Thread Member No 315Married 03/04/2010with many thanks to MSE Wedding boardLO 23/03/12 Special thanks to TTC thread0
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slightly different circumstances here but an AP nonetheless.
i went over my egg credit card limit in 2009 by 8 pounds. They rang to notify the over spend and offered to extend my limit temporarily and asked if i could pay double the monthly payments - 25 to 50 pounds a month. Sure i said, no mention of adding any adverse markers on my credit history. It turns out they placed 4 AP markers on my account!
i have requested a SAR from then which will provide me of all the information they hold on me. I will decide what action to take after picking through all the information.
This thread is brilliant and i think we should continue to update it with our progress! I completely agree that APs are completely unfair and would love to hear Martins opinion on this!0 -
Just to update. HaVing spoken to various people and reading copious amounts of info about defaults/AP markers on creidt files, I decided to just give it a try and ring one of my lenders, Natwest who had defaulted a credit card but been marking a current account and loan as AP since 2009, at first were trying to say that this wouldn't effect my credit scoring, but after a bit of persuading to look into this further they have agreed to amend the AP's to a default, backdated to 2009 which means these will drop from my account next year and not 2022 as they would have if remained as AP's. So a bit of success although I'll beleive them when I see it in black and white on my credit file! Feeling a little more posetive than I was a week ago in approaching the other lenders now but think I'll still be leaving Barclaycard (with its known unhelpfulness) to last.DMP Mutual Support Thread Member No 315Married 03/04/2010with many thanks to MSE Wedding boardLO 23/03/12 Special thanks to TTC thread0
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