Late payment on credit file but wasnt informed of the Debt with Lloyds

[wolfyboy]

I need some advice regarding my old account with lloyds TSB. Back in 2010 I had financial trouble going on and they closed down my account after I couldn't keep up with my payment promise arrangement for my overdraft. It wasn't a huge overdraft at the time £710 but being a freelancer and having late paying clients I couldn't manage the payments on time as well as my payments on my loan. They closed my account and moved the funds to a debt collection agency which I have been paying off monthly and I have a few more payments before it's all cleared off.


Feeling chuffed about being almost debt free I log into noodle to look at my credit score to find that the loan account I had with lloyds back in 2010 is still open and have been marking my account as a late payment every month since November 2010. The final balance of this loan account £77.50. I haven't been contacted from Lloyds about this loan account or I would have cleared this balance off years ago !

Now I've tried calling collections but it's an outsourced call centre and they have been really unhelpful and the lengthy calls talking to someone from another country that can't understand some of the things I say is frustrating and at times I don't understand what they are saying. Im also back at square one knowing no more than i did when i started ! im awaiting a call back from a manager so i thought i would get another opinion on here on what to do next.


Basically i want the loan account closed and the late payments taken off my credit file ! I'm happy to pay the balance of course would it be possible to get this situation looked into and resolved as this one mistake is causing me a huge amount of distress and i am doing everything i can to pay off what debt i have and repair my credit rating but i feel that its completely unjust that i haven't been informed about this debt and it has been left as a late payment on my account for so many years.

Are they legally allowed to do this ? They have passed my overdraft onto their debt management company which i have been paying since they passed it over and the amount is down to a small amount and i have a default, again i shall clear that off in the next few months but my main concern here is the fact that i will have late payment marks on my file for the next 6 years!


Is it possible to play the balance of the loan and have these marks taken off ? as i say i am taking all the steps i can to clear what debt i have and repair my credit rating and i am being held back by Lloyds TSB who have unfairly put me into this situation in the first place.

[DJM10118]

Re: Late payment on credit file but wasnt informed of the Debt with Lloyds

I have a similar situation with Lloyds. I doubt paying the balance off would get the markers removed unless they agree as part of a F&F settlement. Its seems from what I know that these late payment markers will stay on for 6 years after you make the final payment and LLoyds will not do anything about this. What it now appears is that people like us are now in a worse position than somebody who defaulted on the account. A defaulted account is removed 6 years from the date of the default regardless of whether it has been paid off.

I am due to pay mine off next year after 5 years of an arrangement to pay with my creditors, although some of the markers wont drop off for a further 5-6 years

I have logged a formal complaint with the FOS with regard to excessive use of AR and late payment markers. I would have been better defaulting on all my accounts 5 years ago as they would all come off my CRA next year.