# Credit file marked with missed payment



## shane_ctr

Good evening,

I like to keep a check on my credit file and it’s always been in the excellent range. This evening I checked and my score has dropped from 999 to 831 and I am now in the fair range. I have had a further look and apparently I have missed a payment to BMW financial services. I have a good idea what has happened. My BMW contract ended 26th April I had already told BMW that I had planned to return the car back in Jan/Feb when I ordered a new car. At the start of April I rung BMW FS to speak about collection of my car and as expected I was told due to COVID that all collections had been suspended and I was advised as my final monthly payment had been taken I needed to cancel my direct debt as if not and the car is not collected by the 26th April then BMW would attempt to take the final balloon payment which was just over 20k. I was also told to send a picture of my mileage and confirm I will no longer be using the car which I did and BMW confirmed I could cancel my insurance as it would be covered by them. Mid May I got a letter from BMW to say I have an outstanding payment (ballon payment) I rung BMW up who told me to disregard as it shouldn’t have been sent at this point BCA where able to collect the car and a date was arranged. I had a excess mileage charge to pay which I paid and then got an email to confirm the agreement was all settled in full and I was no longer responsible for the car. I will speak to BMW Monday morning but does this have to be resolved by them or do I need to speak to Experian to help?


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## Kerr

This has happened to loads of people with numerous finance companies during Coronavirus.

It sounds as if they've been chasing up the finance company to get the markers removed. 

This really needs to be sorted. I bet a lot of people won't even realise until they apply for credit and get refused further harming their credit rating.


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## shane_ctr

Kerr said:


> This has happened to loads of people with numerous finance companies during Coronavirus.
> 
> It sounds as if they've been chasing up the finance company to get the markers removed.
> 
> This really needs to be sorted. I bet a lot of people won't even realise until they apply for credit and get refused further harming their credit rating.


I agree. Luckily both myself and my wife keep a very close eye on our finance and I have been able to spot it very quickly. Would your first point of call be BMW FS or would I need to speak to Experian to resolve.


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## WRX

My contract with Vodafone expired in Feb so I switched to a monthly contract with Voxi which is Vodafone’s sister company. I also changed bank accounts in February using the current account switch service. I checked my credit file last week and it showed 3 months worth of missed payments on my credit score and has dropped my credit score. I contacted Vodafone and was told it was the final payment that was due on my account. They say the direct debit was cancelled. When I asked why the had not contracted me to ask for the money I was told letters and text messages had been sent. I explained I had zero contact from them since leaving. They insisted I had been sent letters and texts. I paid them the outstanding £56 and requested they remove the missed payments from my credit file. They say they will do that but I won’t be able to check until my credit file updates next month. I have also completed a form for a freedom of information request from Vodafone for all communications from them this year including email, letter and text message so I can prove they have not contacted me about the outstanding balance. Only time will tell how this works out for me but to have 3 missed payments on my credit file for £56 is a p!ss take. 


Sent from my iPhone using Tapatalk


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## Stoner

I would speak with the finance company first and ask them to remove the marker - they have a legal obligation under FCA/CCA regulations to ensure the information they provide the credit reference agencies is correct. They should do this without hesitation given the circumstances you mention. Try to get confirmation from them in writing (email is fine) explaining it is their error, not yours.

In terms of credit reference agencies, you will need to speak with the 3 main providers because anyone of the these may have recorded the "missed" payment These are Experian (as you mentioned), Equifax and Transunion (formally known as Call Credit). Using the proof sent from the lender, you should be able to get any missed payment markers cleared. Good luck, I doubt this will be an immediate fix though as none of these companies move quickly :wall:


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## shane_ctr

Stoner said:


> I would speak with the finance company first and ask them to remove the marker - they have a legal obligation under FCA/CCA regulations to ensure the information they provide the credit reference agencies is correct. They should do this without hesitation given the circumstances you mention. Try to get confirmation from them in writing (email is fine) explaining it is their error, not yours.
> 
> In terms of credit reference agencies, you will need to speak with the 3 mian providers because anyone of the these may have recorded the "missed" payment These are Experian (as you mentioned), Equifax and Transunion (formally known as Call Credit). Using the proof sent from the lender, you should be able to get any missed payment markers cleared. Good luck, I doubt this will be an immediate fix though as none of these companies move quickly :wall:


Thank you Stoner, I will get on to this first thing Monday morning. Fingers crossed it will be easy to resolve and get removed. I just hate seeing it as it makes me feel like I am not good with my finances but I have never missed a payment in my life. Both me and my wife are very ocd about are finances.


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## Stoner

I know. When you have been doing everything correctly and to be "brandished" with this is so frustrating. All the credit reference agencies (CRA's) are reasonable so will help you the best they can and, as I mentioned, have a legal obligation to report accurate information. Fingers crossed it will be resolved quickly. Make sure you ask for anything the lender and CRA's say to respond to you formally in writing as that will help your situation if it does become tricky and gives you proof of the conversations.

I say this as someone who has worked in finance for the last 30 years and know the challenges around these issues - they are bloody annoying and can take ages to resolve. Good luck! :thumb:


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## andy665

Happened to loads of people with VWFS agreements, myself included.

J settled my agreement on 3rd March with collection of car,arranged for 25th March- did not happen due to lock down.

Car was eventually collected 3 weeks ago but VWFS put 3 missed payments on my credit file. They accepted all the way along that there was no arrears, that the agreement gad been settled in full but "there's nothing we can do about the markers until we get the car back.

Got everything put right but took a lot of calls and letters, needless to say formal complaint put into FOS - service from VWFS was disgustingly bad


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