Barclaycard info on credit report (could be wrong area, admin feel free to move)

[davey_weir]

OK

 

About 3 years ago I entered a payment plan with Barclaycard. They froze my interest and accepted £1.76 per month repayment.

 

I am sorting myself out credit wise and recently had some money come in. I decided to settle off my Barclaycard. I called and they took £450 and they told me to pay £23.84 the following month (March) which I did.

 

I received a new statement and a seperate letter.

 

The statement said I owed them 17p, which I have just called and had written off and account closed.

 

The letter, though, states the following:

 

"Your account is now on a repayment plan as agreed. Your statements will now ask for the fixed monthly payment shown above.

 

We will reduce your monthly interest charges to 1% for the next six months. We'll review both your repayment amount and your monthly interest charges after this time."

 

It is then signed by the collections manager.

 

My point is this. This letter is dated 29 March 09. On my credit report it says my account has been in a payment plan for about 3 years. But this letter says that my account is NOW on a repayment plan.

 

Couldnt I challenge the information on my credit report using this letter as evidence?

 

I spoke to an advisor who didnt really understand me. She said my credit score wouldnt be affected as I had repaid my card and account closed. Thats all she kept saying. She couldnt grasp I wanted info on my credit file changed.

 

Any thoughts??

[blueda]

Did you pay the £450 and £23.84 as a reduced settlement agreement as full and final settlement ?.

[davey_weir]

Full & Final Settlement. My amount due was £473.84.

[blueda]

Get right on there case on this Davey, if the agreement was made verbally on the phone, then they have it recorded,badger them by phone and letter and contact OFT.

[gizmo111]

I spoke to an advisor who didnt really understand me. She said my credit score wouldnt be affected as I had repaid my card and account closed. Thats all she kept saying. She couldnt grasp I wanted info on my credit file changed.

 

 

If the info on your credit file is correct then it won't be changed. The letter is irrelevant.

[davey_weir]

Get right on there case on this Davey, if the agreement was made verbally on the phone, then they have it recorded,badger them by phone and letter and contact OFT.

 

What do you mean the if agreement was made by phone? It was made via an agency called Debtcare. I then wrote to Debtcare after seeking advice from the CAB who informed me I didnt need to pay Debtcare to sort out payments for me, I could do it myself.

 

If the info on your credit file is correct then it won't be changed. The letter is irrelevant.

 

The letter cant be irrelevant. It is signed by a manager and says that my card is NOW on a payment plan. Not HAS BEEN on a payment plan. So surely this is ammo for them to change the info on my credit file?

[Kronenbourg]

Hi

 

On your credit file with Experian is it marked as:

 

'Special Instruction Indicator' : 'Arrangement' ????

 

If so then yes this will be having an effect on your credit score as it's telling lenders that you have failed to keep to the products term's of repayment and as such they have had to agree a plan for the repayment of the debt.

[davey_weir]

Hi

 

On your credit file with Experian is it marked as:

 

'Special Instruction Indicator' : 'Arrangement' ????

 

If so then yes this will be having an effect on your credit score as it's telling lenders that you have failed to keep to the products term's of repayment and as such they have had to agree a plan for the repayment of the debt.

 

It just had the initials AP - meaning something like Agreed Payment (I think - my free trial has expired so to get the report I have to pay £12 or something and Im skint after Wembley!)

[gizmo111]

The letter cant be irrelevant. It is signed by a manager and says that my card is NOW on a payment plan. Not HAS BEEN on a payment plan. So surely this is ammo for them to change the info on my credit file?

 

 

For the purposes of the CRA it doesn't mean a thing as long as what is reported reflects your payments.