Credit rating and bank charges

musashi10

Hi,

I have submitted many bank claims but as of yet not many have been resolved. It was my belief that whilst a dispute is going on, that they would not pass on details to credit reference agencies, but this has not been the case with any of the organisations that I have had disputes with-saying that having claims on hold doesn't count and is exempt from being termed a dispute.

I would like to know firstly if this is true and what could be done about it?

Second question is.

On one account with cahoot, all debts resulted from bank charges being applied after I initially went just £5 overdrawn. They have charged me extortiante amounts of charges each month and continue to do so even though I have made claim. My question is thus: Because penalties have continously applied, I assume that each time it has an adverse affect on my credit rating. If the court rules in my favour, would they reverse all credit references as well as refunding the money?

Thank you in advance.

natweststaffmember

They can't pass them onto debt collectors and they cannot take you to court on the disputed debt, however they can report to the CRA's as far as I am aware.

musashi10

Hi, thank you for the response. However, I have told one of the banks this HSBC, and they said they can and have passed them on, and want to take further action against me to reclaim the amount owed which is £1390 of which £1140 is made up of charges. They have passed on the account to a debt collection agency who have since threatened either court action, or a course of action which involves them taking money direct from my wages. their response so far has been that, debts in dispute over bank claims do not come under normal banking regulations they are exempt the debt has to be paid off, then it will be paid back later if the court case rules that the bank charges are unfair charges.

I'm sure this isn't correct, if anyone has more details it would be greatly appreciated, as it's a little worrying.

I'm also sure, that the other accounts in dispute have passed on the details to credit rating agencies also, so my rating will be extremely low, because a lot of these debts will be settled hopefully, one way or the other, after the court case. So I was just wondering if I can get these bad credit references taken off my rating at a later date, or how I can stop them from passing them on, on disputed accounts?

Thank you.

natweststaffmember

Personally I would try and pay the £250 back which is not disputed.