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  • FIRST POST
    • CopyTaster
    • By CopyTaster 14th Mar 17, 4:13 PM
    • 6Posts
    • 0Thanks
    CopyTaster
    Getting more compensation after Barclays refusal to update credit file
    • #1
    • 14th Mar 17, 4:13 PM
    Getting more compensation after Barclays refusal to update credit file 14th Mar 17 at 4:13 PM
    In April 2016 I settled an outstanding default with Barclays. They cashed the cheque within days. They did not however update my credit report with credit associates including equifax etc. It impacted my ability to get on the property ladder and for months I was told my case was a priority. It took the involvement of the ombudsman to get them to upgrade my details to show there is no default. I have been offered £250. I think this is derisory. Should I send this?:
    Thank you very much for your communication sent to the ombudsman.

    Also thank you for the offer of £250 compensation, however under the circumstances the offer needs to be substantially revised upwards for the following reasons.

    1) You received a full and final settlement payment from my legal team at xxx on April xxxx You cashed this in the same month, but you did not edit and update my CAIS (Credit Account Information Sharing )information which could have been done using your own online systems within 24 hours.

    2) In the following months I called you several times including being held for lengthy periods of time in a queue system and once cut off to be told to dial back again and start the hold process again.

    3) On speaking to your staff I was told my case was a ‘high priority’. This was untruthful as you were unable to provide me with the evidence about what steps you were taking to resolve the situation.

    4) The fact that you were able to execute the updating of my credit record within a week of the ombudsman contacting you demonstrates that the procedure is elementary and I have been informed that it takes a maximum of 12 minutes. Please advise me how long this took.

    5) The outcomes of your tardiness and inertia has resulted in a significant delay in getting on the home ownership ladder and locking me into another year of renting at £1350 per month at a time house prices are rising as much as £3000 per month.

    Here are the links to the latest ONS and RICS house price surveys which reveal the growth of house prices in the South East. They cover the period your lack of action excluded me from applying for a mortgage for a home for myself and my two sons.

    Link to ONS

    Link to RICS

    At a time I was in a position to get a mortgage in October 2016, I could have secured a mortgage on a 3-bedroomed property in my desired location for £297.50 a month interest only with capital repayments based on any overtime and bonus payments.

    The difference a month therefore is £1052.50.

    6) I cannot stress enough how much the repetition of your stock phrase to me “We are viewing your case as a priority” has impacted my mental wellbeing and my family’s welfare in terms of securing a property. Your response was obviously a convenient and default response from yourself and one calculated to prevent me approaching the ombudsman and the financial media earlier, but was disastrous for myself.

    So due to you being economical with the truth, my being locked into another rental contract at high cost and the lost opportunity of suitable, affordable accommodation you should revise your offer to £6315.
Page 1
    • mrmagooooooo
    • By mrmagooooooo 14th Mar 17, 4:23 PM
    • 93 Posts
    • 66 Thanks
    mrmagooooooo
    • #2
    • 14th Mar 17, 4:23 PM
    • #2
    • 14th Mar 17, 4:23 PM
    You say that you settled a debt with Barclays? Could you elaborate on this and why it shouldn't have been a reported to your credit files as a default? or are you saying that the default on your files wasn't shown as settled once you had paid?
    • mrmagooooooo
    • By mrmagooooooo 14th Mar 17, 4:24 PM
    • 93 Posts
    • 66 Thanks
    mrmagooooooo
    • #3
    • 14th Mar 17, 4:24 PM
    • #3
    • 14th Mar 17, 4:24 PM
    And id be amazed if you got £6315 off them for not removing a default regardless of the reason. That said if you dont ask you dont get! :-)
    • Arleen
    • By Arleen 14th Mar 17, 4:39 PM
    • 927 Posts
    • 684 Thanks
    Arleen
    • #4
    • 14th Mar 17, 4:39 PM
    • #4
    • 14th Mar 17, 4:39 PM
    Good grief.

    So you've settled with them an account that went into default, I guess because you didn't keep up with your payments. The onus of your complaint would be that if this default was marked as "settled" or removed, rather than outstanding, then you would have got a mortgage as this was the only deciding factor. Do you have any proof of that? Like a mortgage offer, in writing, which stipulates that it will go live if you can settle this outstanding debt? If not - that complaint is a non-starter.

    If you do, you may claim SOMETHING. How much? 250 quid sounds about right. Maybe I would squeeze their heads for extra 50 and go out for pints. But I doubt that you have fulfilled this requirement, as interest-only mortgages almost do not happen anymore. But you are not entitled to house price rises, your rent or inflation on the average price of gold. You are of course welcome to go and sue them for those, as they will not hand it out, but that will be throwing money down the drain, and lots of it. If you decide to go this way, you will need a solicitor to fill this claim for you, as it's much more complex than it seems.

    What was the nature of the default anyway? You say that you have settled it, which sounds like money was owed, but on the other hand you say that it was removed - suggesting otherwise.

    Update: What is the basis of them offering you the 250? Is this just goodwill on their part? If so then keep in mind that after you send a letter like that the goodwill may end.
    Last edited by Arleen; 14-03-2017 at 4:50 PM.
    • zx81
    • By zx81 14th Mar 17, 5:12 PM
    • 12,678 Posts
    • 12,936 Thanks
    zx81
    • #5
    • 14th Mar 17, 5:12 PM
    • #5
    • 14th Mar 17, 5:12 PM
    1) You received a full and final settlement payment from my legal team at xxx on April xxxx
    Originally posted by CopyTaster


    Leave it to your legal team to pursue with them - isn't that legal teams are there for?
    • CopyTaster
    • By CopyTaster 14th Mar 17, 6:31 PM
    • 6 Posts
    • 0 Thanks
    CopyTaster
    • #6
    • 14th Mar 17, 6:31 PM
    • #6
    • 14th Mar 17, 6:31 PM
    Thank you. An additional £50 for pints sound pretty good. And what was very valuable was your comment that a goodwill gesture can be withdrawn rather than improved upon..
    • CopyTaster
    • By CopyTaster 14th Mar 17, 6:33 PM
    • 6 Posts
    • 0 Thanks
    CopyTaster
    • #7
    • 14th Mar 17, 6:33 PM
    • #7
    • 14th Mar 17, 6:33 PM
    default on files wasn't being shown as settled. Apologies for not being specific
    • Arleen
    • By Arleen 14th Mar 17, 6:44 PM
    • 927 Posts
    • 684 Thanks
    Arleen
    • #8
    • 14th Mar 17, 6:44 PM
    • #8
    • 14th Mar 17, 6:44 PM
    default on files wasn't being shown as settled. Apologies for not being specific
    Originally posted by CopyTaster
    Right, so there is even less leverage on your end as removal of wrong default would be much better to try to get more money from. So just take the 250 and be happy with it, as their only duty is to put you in the position you were in before the bad thing happened, anything else is a bonanza. 250 may not seem like a lot of bonanza, but it's better than nothing.
    • yoshiyella
    • By yoshiyella 14th Mar 17, 7:31 PM
    • 451 Posts
    • 133 Thanks
    yoshiyella
    • #9
    • 14th Mar 17, 7:31 PM
    • #9
    • 14th Mar 17, 7:31 PM
    Right, so there is even less leverage on your end as removal of wrong default would be much better to try to get more money from. So just take the 250 and be happy with it, as their only duty is to put you in the position you were in before the bad thing happened, anything else is a bonanza. 250 may not seem like a lot of bonanza, but it's better than nothing.
    Originally posted by Arleen
    I'm surprised he got that much, at most £50.
    • chanz4
    • By chanz4 14th Mar 17, 8:25 PM
    • 9,876 Posts
    • 2,871 Thanks
    chanz4
    This is funny, have to agree take the £250. If you had paid the debt before it went to default you wouldn't of had one.
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
    • Tarambor
    • By Tarambor 14th Mar 17, 8:28 PM
    • 1,028 Posts
    • 699 Thanks
    Tarambor
    You defaulted on your payments. That was correct to put on. Even though it wasn't marked as settled you have defaults on your file for non payment so the end result with the mortgage would most likely be the same. If you couldn't afford to make even the minimum repayment on a credit card why would a mortgage company lend you 50 to 100 times the amount your credit card has as a limit? You're a bad risk.
    • GingerBob
    • By GingerBob 14th Mar 17, 8:59 PM
    • 3,615 Posts
    • 1,651 Thanks
    GingerBob
    You defaulted on your payments. That was correct to put on. Even though it wasn't marked as settled you have defaults on your file for non payment so the end result with the mortgage would most likely be the same. If you couldn't afford to make even the minimum repayment on a credit card why would a mortgage company lend you 50 to 100 times the amount your credit card has as a limit? You're a bad risk.
    Originally posted by Tarambor

    Correction - was a bad risk. May not be any longer. Like it or not, it would appear that the cockup by Barclays has cost the OP money. His previous conduct is of no consequence whatsoever. If chancers like Barclays can't arrange for correct information to be submitted there's a simple answer - they shouldn't be allowed to report accounts.
    • CopyTaster
    • By CopyTaster 14th Mar 17, 9:12 PM
    • 6 Posts
    • 0 Thanks
    CopyTaster
    I'm actually not a bad risk. Though perception is all. I was defrauded by a significant other and it went to court and I was vindicated. Go easy on me . It wasn't easy to be bold and come on here. I appreciate the honesty and I am glad I sought your advice. Thank you for stopping me from not being vindictive
    • CopyTaster
    • By CopyTaster 14th Mar 17, 9:15 PM
    • 6 Posts
    • 0 Thanks
    CopyTaster
    Understood. And thank you. I paid. They cashed the cheque. It took 11 months to get my credit report updated and it took an ombudsman's intervention. I recommend the ombudsman by the way. Swift and fair
    • rtho782
    • By rtho782 15th Mar 17, 8:22 AM
    • 969 Posts
    • 664 Thanks
    rtho782
    At a time I was in a position to get a mortgage in October 2016, I could have secured a mortgage on a 3-bedroomed property in my desired location for £297.50 a month interest only with capital repayments based on any overtime and bonus payments.
    Originally posted by CopyTaster
    I don't think you could have, not many lenders will do interest only anymore!
    Deposit Saved since 01/12/15: £13,000 / £15,000 House Bought!

    Debt Cleared since 01/12/15: £6,000 / £7,500
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