My credit file is showing me as late paying since October last year, but this is incorrect what can i do?

I noticed recently on my credit file that a major credit company with whom I have a personal loan are showing me as late paying since October last year. The payments are taken by direct debit on a monthly basis and have never been missed and have never been late.

I have actually spoken to this company on the telephone on several occasions and yet we've gone through the statements and the payments and they've said yes, everything's fine - we'll get back to you in seven days and it will all be resolved. That's been going on since March and they have failed to call me back on every single occasion.

Owen Roberts, head of Callcredit Check, part of credit reference agency Callcredit responds:

"What should be on your credit report is a statement of facts. Because of the amount of data that's being pushed around there's the opportunity for mistakes to happen, so it could be that the lender in question has submitted some data that is actually incorrect because they've simply got the payment status wrong. It could be that when it's arrived at the credit reference agency the credit reference agency has incorrectly attributed that data. I would say if you're not getting anywhere with the actual lender, the best place to start is at the credit reference agency and raise a dispute from that end."

"The best thing to do is to have a check of your credit report from any of the three agencies and that begins that dialogue and then you can do it by phone, by post or by email."

Neil Munroe from credit reference agency Experian responds:

"All of the lenders that supply data to us have a facility to amend data very quickly with us. They can do it literally as a stop press as we call it within 24 hours so keep going and get it corrected. It's not a matter of waiting a length of time. If a lender agrees with you, they will adjust it straight away so if you're in the middle of trying to apply for something then hopefully it won't delay things too much."

Of course if you feel you also have a dispute with the lender then you can always put a complaint to them and then ultimately to the Financial Ombudsman Service and try and get that resolved.


Query raised on BBC Radio 4 Money Box Live
Wednesday 29th April 2009