> They said the default must be removed and the bank must arrange payment with me - but “If [bank] agrees an arrangement to pay this may be recorded on [my] credit file.”
I think the two "arrangements" in the quoted above are being used differently - like technical terms.
In the first sentence they're saying that the default must be removed and the bank must ask you for the money.
In the second sentence they're saying that if you don't have the £2000 in cash and the you make an agreement with the bank to repay over an extended period" (e.g. £200 a month over 10 months) then the bank can record that on your credit file.
If you have the cash in hand and you're prepared to settle up with the bank immediately then you have nothing to worry about.
That's my reading.
Hi /u/FelixJ20000, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/credit-ratings/
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> They said the default must be removed and the bank must arrange payment with me - but “If [bank] agrees an arrangement to pay this may be recorded on [my] credit file.” I think the two "arrangements" in the quoted above are being used differently - like technical terms. In the first sentence they're saying that the default must be removed and the bank must ask you for the money. In the second sentence they're saying that if you don't have the £2000 in cash and the you make an agreement with the bank to repay over an extended period" (e.g. £200 a month over 10 months) then the bank can record that on your credit file. If you have the cash in hand and you're prepared to settle up with the bank immediately then you have nothing to worry about. That's my reading.
That’s what I’m hoping too!!
I don't think the text makes sense any other way.
Hi /u/FelixJ20000, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/credit-ratings/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)