New payment agreement showing as late payments to Experian.

[clarkey1]

Dear All,

 

I was made redundant in Nov last year, within a week i contacted all my creditors to explain the situation and made payment argeements with them all.

 

Egg - was a nightmare, they would not do anything untill i was in arrears, to enable them to get more charges i think, which they did and i got them back.

 

Capital One was fine after about 2 hours on the phone being passed from supervisor to manager, and we got over the language barrier.:-|

 

Subsequently 6 months down the line after checking my credit report i noticed that 3 of the 8 creditors have still reported my details to Experian as being 5 months late, dispite me calling up each month and making the agreed payments on time every time.

 

After questioning this with them, 1 of the creditors agreed it was a mistake and amended it the next day, however, surprise surprise, Egg and capital one say it is correct because i have not made the original contract payments on time.

 

My question is, when i sign up for my credit card i went into contract with that company and agreed the T&T'S, however after setting up an argeement with them, is it not the case that we have both now agreed a new contract, which in principle ends the original one, therefore if i make the payments on time every time as per there last letter, are they wrong in advising Experian that i am late?

 

 

 

Regards

[suzby83]

Hi Clarky,

 

I was in a similar situation, but my reasons were due to a relationship breakdown, and my evil ex abandoned me with debt. I rang my credit lenders immediately to inform them and agreed a lower payment until my circumstances improved, however, the payments have been recorded on my credit report show as late, even though I made payments each much but not the original agreed amounts. I'm not sure if this can be corrected??

[clarkey1]

Hi,

 

I have recived this reply from Experian?

 

Thank you for your e-mail received earlier today.

The status history of an account shows how you made payments in relation to your original repayment contract. Late or reduced payments may still be shown in the status history of an account even if you made an arrangement with the lender to do so.

The decision as to whether to record the account as being in arrears in the status history when a payment arrangement is made is at the discretion of the company concerned. However, companies will usually put late payments in the status history of the account as an indication that the account holder has failed to meet the terms of the original agreement.

Basically, they can tell them what they want it is up to the banks, what a joke?

Regards

[suzby83]

One of my creditors was Halifax Credit Card. I explained to them my problems and they accepted my lower payments for the short term, and to be honest, for once, Halifax appeared to he helpful. Not like Halifax banking. They recorded my payment on time even though my payments were the reduced amount. So my credit report shows fine on this account.

 

Its a joke that one company can be ok and another company can be nasty and record data like this.

 

Regards,