credit score - now borked
Discussion
so me and the mrs have been carefully and over the last few years cutting back on the amount of debt and expenditure that we have, all to rebuild our credit scores after a business of mine went under (i was ripped off and couldn't carry on).
so fast forward a few years and for various reasons my son has a loan that's in arrears and as he is in australia with only causal work we're paying it. i was guarantor, he didn't tell us it wasn't being paid.
after a long discussion with my wife we decided to fully settle the loan, getting finance elsewhere, so the money comes in and i settle the loan with company a (sons loan) with the money from company b.
get an alert on my credit record today, thinking it will be good news as i settled, i log in to find a default notice logged against me, taking my credit score from in the excellent part to poor. it was posted to my credit record 4 days after i settled. it does however say it's settled?
company a say it was sent by them on the 14th, even though they knew we were sorting out money and i had never missed a payment since i took over the arrears.
now they won't take it off, and they won't update my score till the 14th october.
to say i'm livid is an understatement, and will cause me grief further down the line, as we wanted to re-mortgage.
i doubt there is, but is there anything i can do? i imagine i will have to take it on the chin.
company a reckon they can't take it off as the account was in default / arrears and i need to speak to the credit rating people, company a won't do anything else over it.
can i take it further, i really don't want this hanging over me like the last few years as we dug ourselves out of a hole? could i contact the fca or financial ombudsman? yes i am petty and annoyed so if i can cause company a some grief and hassle i want to at present. i may calm down in a few hours.
so fast forward a few years and for various reasons my son has a loan that's in arrears and as he is in australia with only causal work we're paying it. i was guarantor, he didn't tell us it wasn't being paid.
after a long discussion with my wife we decided to fully settle the loan, getting finance elsewhere, so the money comes in and i settle the loan with company a (sons loan) with the money from company b.
get an alert on my credit record today, thinking it will be good news as i settled, i log in to find a default notice logged against me, taking my credit score from in the excellent part to poor. it was posted to my credit record 4 days after i settled. it does however say it's settled?
company a say it was sent by them on the 14th, even though they knew we were sorting out money and i had never missed a payment since i took over the arrears.
now they won't take it off, and they won't update my score till the 14th october.
to say i'm livid is an understatement, and will cause me grief further down the line, as we wanted to re-mortgage.
i doubt there is, but is there anything i can do? i imagine i will have to take it on the chin.
company a reckon they can't take it off as the account was in default / arrears and i need to speak to the credit rating people, company a won't do anything else over it.
can i take it further, i really don't want this hanging over me like the last few years as we dug ourselves out of a hole? could i contact the fca or financial ombudsman? yes i am petty and annoyed so if i can cause company a some grief and hassle i want to at present. i may calm down in a few hours.
Does your shift key not work?
The CRA's only record data they are given by the creditors, so it is completely within the power of any creditor to amend or have removed information recorded.
The question is, is the Default correct. Normally to be deemed in default the debtor needs to be three months in arrears, was he?
The CRA's only record data they are given by the creditors, so it is completely within the power of any creditor to amend or have removed information recorded.
The question is, is the Default correct. Normally to be deemed in default the debtor needs to be three months in arrears, was he?
was still seething about this last night at home, then got an email this morning from company a saying that after reviewing the situation they agree it should not have been issued.
so having been on to experian, i have queried i and company a say they will agree it was a mistake and change everything on the 14th oct.
so i wait with baited breath.
mind company a are so bad i suspect this will carry on, when the loan was first started they took 3 payments then never applied for the payments for 11 months, then had the gall to write to us demanding the money in one lump (we'd saved it) plus arrears interest etc, when we pointed out that they hadn't applied for the payments, confirmed by natwest they back peddled fast.
so having been on to experian, i have queried i and company a say they will agree it was a mistake and change everything on the 14th oct.
so i wait with baited breath.
mind company a are so bad i suspect this will carry on, when the loan was first started they took 3 payments then never applied for the payments for 11 months, then had the gall to write to us demanding the money in one lump (we'd saved it) plus arrears interest etc, when we pointed out that they hadn't applied for the payments, confirmed by natwest they back peddled fast.
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