Dilemma… paying of loan when in a AP with Santander

[sjwuk2016]

I have a Santander loan which I think is in an AP

and has been for years but not recorded on any CRA’s

 

It was previously in a DMP

after paying all my creditors two years ago

I only had Santander remaining,

but because of the amount I couldn’t settle the Santander loan at that time.

 

They never contact me regarding the loan

I just pay the amount via fast payment every month,

 

 

in the past I’ve missed a month but still get no response from Santander.

I’ve never signed any paperwork regarding the AP requirement after the DMP

or agree on a fix payment plan.

I just agreed on the phone I would make payments every month.

 

IF I pay the loan off will they then update my CRA to settled (which is good)

but record this as a AP (not good). Which will then disturb my credit score (or will it)?

 

I’m in the middle of a mortgage application and don’t want to see any changes to the CRA files.

 

My concern is IF I leave the loan unpaid but continue the AP payments

I’m worried that they could default me at any time.

I've been paying this loan for 7 years.....

Maybe it best not to disturb the beast.

Thanks

Edited April 2, 2016 by sjwuk2016

[mikeymack2002]

What does your CRA say? Have you checked it recently?

[sjwuk2016]

Hi Mickey,

Yes I've checked all 3 and it's not shown or reported. My reports are in good health.

[dx100uk]

then its fallen off and cant comeback

 

 

dx

[sjwuk2016]

Possibly dx, but I don't think it's ever been reported. It's been so long.

Maybe I can call the CRA see if they have it in my history.

Thanks

[dx100uk]

no need

its been defaulted at some time

the default has exceeded its 6th birthday

its been removed.

it cant come back.

 

 

ps I'm interested to know 'what' you mean by AP?

[sjwuk2016]

I've had it so long I'm not sure what the status is.

AP arrangement to pay

[dx100uk]

good what I thought

then its been defaulted and dropped off

 

 

if it hadn't, then it would still be there

as AP never causes removal.

 

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

[sjwuk2016]

This is what I'm thinking too.

 

 

BUT I used to check my CRA reports regularly and from what I can remember

I've never seen the loan reported.

 

 

Do you think they never actually updated the CRA in the first place?

 

 

I've been doing some digging, they bought alliance and leicester back in the day,

my loan is from alliance and leicester.

 

 

I'm tempted to pay it off in full but if they then update the CRA i'm doomed…

 

Thanks for the previous advice dx.

Edited April 2, 2016 by sjwuk2016

[dx100uk]

so why did you take out this loan if its A&L its gotta be years old.

 

 

have you ever sent Santander an sar

and get all the statements

and look for penalties & PPI etc,

it certainly cannot appear no after all these years.

 

 

dx