23 May 2015

A question about : Making repayments but it wont show on my credit report

Hi,

I recently decided to do a credit report to attempt to clear my debts and improve my credit score from 1/5 as I want to get on the property ladder. I had 4 outstanding debts all in default. I contacted three of them and agreed a payment plan which shows on my credit score. I then contacted the biggest debt (Ј1300) which was Santander to try and do the same. They said I can do the same but it will not show on my credit file until the debt is fully re-paid. I asked why they said it was company policy. I set up the payment plan anyway but it will take some time to pay off as I only work part time and I am currently paying off three other debtors.
I was just wondering are they allowed to do this or was he just being mean?

Thanks

Scott

Best answers:

  • Hi
    If you start making payments to this debt then Santander must reflect that the balance is reducing by updating the current outstanding field balance 'regularly'.
    But the fact that the account is in default will not change until the debt is fully paid.
    This is how all your creditors should be reflecting that payments being made to a defaulted account Santander cannot override this with Company policy and if in a couple of months the outstanding balance on your credit file is not reducing then write to complain.
    Their Company policy cannot override this.
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