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Provident (satsuma) tanking my CRF by not updating payment agreement on file

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I had a loan via satsuma loans (provident financial ltd) I started to find unaffordable.

I did the right thing and rather than paying late I contacted them being honest and setup a payment agreement, which I have stuck to 100% and not missed a single payment since it was setup in may 2017.

 

Despite this and the fact ive made major strides to improve my debt handling and credit record over the last 12 months its still had something dragging it down and ive just found out that its provident financial ltd.

 

The record for them on my credit file is still showing as per the original loan agreement which I haven't been paying for almost 12 months now however this is no longer valid as the new payment agreement I had with them superseded this original agreement which explains why I haven't been making payments towards it.

 

I have requested via experian and noodle that satsuma update this record to reflect the new agreement but they have refused to do so.

 

My question is, is this legal?

I dont see how when ive setup a payment agreement with a company's approval that the original payment agreement is still valid as surely you cannot have 2 payment agreements with 1 company for 1 loan..

 

...the payment agreement I setup surely supersedes the original one? and I dont see how its fair that im being penalised for late payments on a loan agreement I no longer have any agreement to pay.

 

this whole thing has utterly tanked my credit file despite the fact ive worked really hard over the last year to sort myself out and until I find someway to correct it it will keep on tanking my credit file.

 

So just wondering what my options are here?

 

Is there anyway I can force satsuma to update my file to show the new agreement rather then the out of date invalid one?

 

Can I get some advice please?

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you are still not meeting the original agreements payments so they are quite entitled to mark your credit file.


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But the new agreement has surely superseded the original agreement? ,

you cant have 2 payment agreements for one loan active.

the original one is invalid,

 

I cant possibly pay towards that anymore as all payments to satsuma automatically go towards the new agreement, that old agreement no longer exists....and surely the new agreement as the one im currently paying towards should be on my file,

i`ve been paying it off since may 2017 and its not got a single entry on there

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you have ONE LOAN only yes?

its the LOAN that goes on the credit file to show how you conducted yourself financially

 

you did not setup a new payment agreement

you setup a new payment arrangement

 

you broke the terms of the LOAN

so they are entitled to default you


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They didnt default me but they are marking down my payment as late every single month despite the fact I am making payments under the new arrangement absolutely fine.

 

Added to that i setup arrangements with 2 or 3 companies at the time.....

provident are the only one who have done this....

 

it seems almost spiteful to me, what do they gain from [removed] my credit file?

 

How the hell am I meant to improve my credit rating when even when I try to get things under control and sort out ways to pay off what I owe without missing payments im still penalised a year or so after ..

 

 

..had enough of this [removed]

If they had a problem with my new payment arrangement to the point where they felt the need to destroy my credit rating over it why the hell did they accept it???

 

 

Maybe next time I should just default on the entire loan and not pay them anything I wouldn't have been any worse off!

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please stop swearing.

there is no need.

post edited above.


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just because you don't understand how credit rating works don't make it our problem

they are entitled to mark your file

the calendar stuff is not really important anyway

 

if they have not defaulted you then that's a shame it better they all do and after your 3rd missed payment

that way its guaranteed that all the data will vanish on the defaults 6th birthday


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when did I state it was your fault? and no I don`t apologise for the swearing,

theres no kids here and im frustrated

 

I just don`t see any other reason for provident doing this other then pure spite,

as I said no other company I set up an arrangement with have gone about it like this!

 

I dont see how when im meeting a payment arrangement THEY ACCEPTED and haven't missed a single payment they have the legal right to mark every single payment due as missed as if the new arrangement doesn't exist!

 

They made no mention of the damage this arrangement would do to my file when they accepted it by the way!

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As long as they are keeping an accurate and upto date record of the account on the credit file ( which from your info they are), then there is absolutely nothing you can do and its completely legal.

 

However, if you think it ISNT correct, and they have not marked each payment as made, and as arrangement to pay or default, then issue a full complaint to the lender. They have 8 weeks to try and rectify it.

 

But you need to keep a calm and rational mind.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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Literally every single payment is marked as late, not marked as under arrangement, not marked as partially paid just `late` no mention of the new arrangement what so ever anyway on the entry in my file its as if ive defaulted and not paid a penny since. and that certainly isnt right.

 

Or though I think next time id just do that because if I did itd tank my credit file anyway so whats the difference?

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Can you screenshot the entry from your credit file please. Just so we can check and confirm.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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you don't want the arrangement marker

that never goes away and will kill your score for sure

the debt should have been defaulted on the 3rd missed payment

if they haven't then p'haps a complaint is in order

 

but lets see

 

pop it up as a PDF please

read upload


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on my phone at the moment so will sort a pdf to upload when I get home

 

just noticed something interesting,

there `is` a mention of the arrangement under the entry on my file....on the bit where it says PAYMENT TERMS:

it specifies £80 x 13 months which is what ive been paying (with none missing)

 

however every single entry under that

-under the headings

`payments up to 5 months late`.

`Payments up to 4 months late`,

`Payments up to 3 months late`,

`Payments up to 2 months late`,

`Payments up to 1 months late`

(organised via the experian credit expert credit report) shows payment amount £0 as if ive paid nothing.

 

So the arrangement at the top specify`s the 13 months of £80 a month that im paying.

 

But the payments underneath in relation to that £80 x 13 months are showing as if im paying £0 and missing every single one

 

Now that definitely cannot be right

as first of all im not paying £0

even if it was

taking into account the original arrrangment

im still paying £80 a month rather then the £0 its recording...

 

..and second of all

if the payments are towards the £80 x 13 months as id assume they are as thats whats stated at the top of the file

then surely saying ive paid £0 each month when ive actually made that £80 payment is totally wrong!

Edited by dx100uk
formatting

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id go get your report from Experian directly its free still

that way you get the true picture.

 

again what you are describing sounds ok

 

https://www.consumeractiongroup.co.uk/forum/showthread.php?481868-Credit-Reference-Agency-Guide-The-A-Z-of-Understanding-and-Managing-your-rating


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ah ive found a way to do this.

 

heres the first part of the entry showing the £80 x 13 months arrangement at the top

 

and the bit with where it states about every payment.

 

it only shows one as you can only have 1 open at a time but the £0 in the payment made section is the same under every single one.

 

Well they are doing 1 of 2 things.

 

they have recorded the arrangement as the new £80 x 13 months as stated on the file but for some reason not recognising the payments made...

 

..or they are doing it as to the original arrangement but stating the new one and still not recording the right payments made as new arrangement or old arrangement ive been paying them £80 a month not £0 as they are recording.

 

Ive contacted them about this so we`ll see what comes about,

I cannot believe theyve had me as paying £0 every month for 12 months now!

 

no wonder whatever I did well in other ways I couldn't get my damn score to raise!

At the very least even disregarding everything else I have not paid £0 at any point for this loan let alone £0 every single month for the last year!

 

just glad I caught this when I did.

CRF.pdf

Edited by dx100uk
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have you looked at noddle?


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the balance is decreasing by the £80PCM you are paying

the late payment marker is accumulative over the history of the loan.

its not stating you are late

its simply stating that over history of the loan, that is how many times you've been late to that date.


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Both credit services, equifax(noodle) and experian as above show the payment arrangement of £80 a the payment terms for the entry concerned, neither of them even mention any other payment arrangement.

 

As such the payments `under` that entry must be for the payment amount shown, which would be the £80 a month, it is that entry these payments are connected to on my file and that entry is showing the terms as I mention, nothing else.

I think that previous arrangement can be disregarded.

 

Surely if the payments on my file are showing connected to a particular payment schedule then it is that schedule they take into account if I am keeping to or not, not a past schedule which there is no longer even any record of on the credit file entry, do you see what im saying?

 

Under this arrangement I have never missed a single payment and I have certainly never paid £0 a month as the records show.

 

At the very LEAST even if you disagree about what the late payment thing is in relation to you must see that it cant be right that the records show me as simply paying nothing for 12 months running, no mention of the payments of the £80 ive been making on time monthly what so ever. And that is factually incorrect.

 

The question is and the reason I even posted here was to ask what do I do about it?

what can I do about it?

 

if satsuma refuse to update the record once again (and ive requested corrections with experian and equifax as well) to at least show the payments I have been making rather then £0 is there another level I can take it to?

 

some kind of ombudsman I can ask to take a look at the case if I think ive been treated unfairly?

 

This is the noodle report entry, note the same, increasingly late payments despite the stated payment terms on the file entry showing as a regular payment of £80 a month.......which is what im paying on time every month.

 

(edit, think equifax need to update accounts faster as well......no entry at all on that since january, its now april....only 3-4 months out of date lol)

pc3.pdf

Edited by dx100uk
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looking at the 2nd page of the previous scan

 

17-FEB-2018 payments terms are £80x13mts

the balance is decreasing by your £80 each month

the fact that there is £0 payment showing wont be harming you

 

it could just be that the late payments are the fact that they may be using the old payment date and not a new one if its now changed

the late payment markers wont be hurting your score very much at all.

 

ultimately its the information commissioners office that regulate what goes on your file

but as I say, even if you get this small issue sorted, it will not improve your score by very much if at all.

 

if your score is low it will be other debts on your file that are causing it.


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Definitely this behind my low score,

 

As I said ive made a real effort to get my file in order over the last year I still have a couple of other debts on my file but nothing major (nothing even above £500) and nothing else has any missed payments showing or any problems at all othen this provident entry.

It has to be this its the only thing flagging up with any issues on its status.

 

I think the problem is the fact that its multiple late payments over an entire year due to the errors in recording.

 

I mean take yhat experian file its showing it as 4-5 payments 5 months late or more 3 payments 2-3 months late or more etc and so on .

 

im sure one payment late wouldn't be an issue but this is flagging up as multiple months late over an entire year.

Thats gotta be adding up when it comes to tanking the score

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so what is your score then?


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Well going by the one I can quick access on my phone (clearscore which I think is based on equifax?) My score is 341 out of 700. Not very high but its a lot better then a year or so ago when it was around 120 of 700! Its been steadily climbing since about october last year once accounts started being settled and all sorted. Im anxious for it to continue obviously thats why I hope to get this provident mess sorted out

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that wont be the reason it is that low for sure.

 

don't forget the +issues tab only tells you about active credit that's pulling your score down

if you've got defaults marked or issues with any other credit, even if paid off, they will hurt your score for 6yrs.

 

also not being on voters for more than 6mts kills it too.


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Take my word for it its the only black mark on there. The only actual default ive ever had was about a decade ago if not more so had long since been wiped off the record and there is nothing else in about the last 11-12 months (and missed payments stay on file for only 6 months remember) that shows anything but perfect payment.

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well its not the reason for such a low score.

 

you are missing something

or else go ting them and ask why its so low.

 

barring this one account, have you any other running credit that's upto date?


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